inFeedo gets $200,000 on the spot funding from 4 investors
HR analytics firm inFeedo has raised funding of $200,000 from group of investors led by Dheeraj Jain, Managing Partner, Redcliffe Capital and Anupam Mittal, CEO of Shaadi.com. Existing advisor Dheeraj Jain, Managing Partner at Redcliffe Capital also participated in the round. The company also got funding from Ameera Shah, CEO of Metropolis; Vivek Bhargava, Group CEO of DAN Performance and Ambarish Gupta, CEO of Knowlarity.
Focusing on employee engagement, inFeedo's new chatbot Amber is being used in companies like MakeMyTrip, PayU, Lava Mobile, Knowlarity, RedBus, Caratlane and Nearbuy. Founded in 2013 by Tanmaya Jain, inFeedo operates by providing chatbot software as SaaS to other businesses. The chatbot called Amber talks to employees regularly and based on their chats, auto generates culture reports for HR leaders to proactively meet those who’re unhappy, facing troubles or about to leave.
“The investment further validates the disruption that inFeedo’s differentiated approach is creating in employee engagement for corporates at all levels. We are currently live with 16+ companies and we aim to touch more than 10,000 paid users by the end of the year 2016. I’ve received phenomenal response from over a 100+ HR Heads this year and we’ve reached a stage where we’re almost unable to deal with the incoming interest. We find ourselves as uniquely positioned in terms of superior technology & investors who are backing our company to help us deal with scale,” said Tanmaya Jain, Co-founder at inFeedo.
inFeedo has earlier raised an undisclosed amount of funding, led by Dheeraj Jain, partner at Radcliffe Capital along with Palash Jain, ex-Head of Google India core operations.
This startup participated in a reality show called the VaultShow where chosen entrepreneurs get 5 minutes to pitch to investors in the show. The investors then either choose to fund the startup on the spot, believing in the vision and the idea of the company or they rip you apart with criticisms. The format of the show is very similar to another reality show called the SharkTank. inFeedo got selected to present it's case from about 5000+ applications and they also received instant funding of RS 50 lakh from 2 investors on the show and another RS 35 lakh from the other 2 investors post the show.
"I am really excited to share that inFeedo got funded RS 50 lakh on the spot by two investors, and then RS 35 lakh by other two investors after the show," said Tanmaya.
Founded in 2013 by Tanmaya Jain and Varun Puri, inFeedo created a chatbot Amber which is a common linkage between employees and the HR Heads to address their issues.
Dheeraj Jain of Radcliffe Capital had earlier commented, "we have heard stellar feedback from their (inFeedo's) clients on how they have arrested attrition and helped boost employee productivity. It's efficient SaaS model will enable them to manage culture in organizations across the globe."
Tanmaya had earlier told People Matters that inFeedo is the fusion of HR and data science.