PickMyWork raises $1Mn in seed funding round
PickMyWork, a startup that assists digital companies to acquire end customers, has raised $1Mn in seed funding round. The funding was led by SOSV’s Orbit Startups but the round also saw participation from Soonicorn Ventures, Upaya Social Ventures, Blume Founders Fund, Venture Catalyst, Mumbai Angels, 888 Network, Imperier Holdings and WeFounderCircle. .
In an official statement, the company noted that the funding to grow its network of agents in various geographies pan India. A part of the raised investment will also be utilised in strengthening the technology backbone which will further increase the efficiency of the distribution.
Commenting on the funding round, Vidyarthi Baddireddy, co-founder & CEO, PickMyWork said, “With new internet businesses launching every day there is a dire need for a strong distribution pillar to catalyse their growth. It becomes an impossible task for these businesses to penetrate the tier 2 and tier 3 markets where there is still a grave need for assistance as these geographies gradually adapt to the digital world." He furthered that PickMyWork is working toward bridging that gap.
PickMyWork is a digital distribution network, allowing digital companies to acquire end customers based on a pay-per-sale model, at a very low CAC. Working with more than 3,00,000 gig worker, it serves companies some of which are Meesho, Freecharge, IndusInd Bank, Flipkart, Fi Money, Amazon Pay, and Airtel Payments Bank and AU small finance bank.