Delhi-based digital analytics startup, PropheSee, has raised about $500K (NIR 3.3 Cr.) in an angel round of funding led by Indian Angel Network, Stanford Angels and Entrepreneurs India, confirms founder Jitesh Luthra.
Ajay Lavakare, who led the round on behalf of Indian Angel Network and Stanford Angels and Entrepreneurs, will be joining the board of directors along with PropheSee’s advisor & mentor, Sujal Shah (CXO/Investor, MissMalini Media & MD Bandra Road Advisory).
Founded in 2014 by Harshil Gurha, Ishaan Sethi and Jitesh Luthra, PropheSee – a Big Data Software as a Service (SaaS) platform – allows brands to leverage their digital presence by developing actionable insights, predicting outcomes & optimizing for success.
Since its launch in November 2014, PropheSee has worked with over 15 brands across 6 industries, in India as well as abroad and became cash positive within three months of its launch.
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Instead of analyzing several data sources in isolation – be it social media channels (such as Facebook, Twitter & Instagram) to customer relationship management & sales figures etc., the PropheSee platform aggregates various data streams into one dashboard & enables brands to get the most accurate 360° perspective on where they lie in the market.
The platform will be tracking upwards of 40 channels in the next 6 months with new developments in their analytics & reporting modules alongside content discovery, execution & monitoring features.
The raised funds will be utilised to scale technology & build core talent. Over the next six months, the company is looking to develop more industry specific analytics & modules, investing in predictive algorithms and data visualisation methods to facilitate better utility & decision making by management, from their data and insights.
Speaking on the development, Ishaan Sethi, co-founder & CEO at PropheSee said, “Our key focus is to deliver actionable insights using big data technologies to run pioneering analytics. All companies should have access to digestible, actionable insights from their social and digital presences. While the primary focus thus far has been on descriptive analytics with the goal to help brands take control of their data, the platform will soon be capable of running predictive analytics to model consumer behaviour (among other trends) based on digital data. The next six months are extremely exciting for us as we take this platform live globally.”
PropheSee has provided analytics for several well-known brands and political parties in India & abroad. These include Faith Connexion, Rock N Shop, NDTV’s Indian Roots, Miss Malini, PVR along with others.
Earlier in April, 2015, the company had also launched its new product, Shoprgram. This platform gives brands the ability to let their followers/customers shop from Instagram. The aim of this product is to help brands generate traffic & potential revenues from Instagram, a channel where this has not been possible.
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