News: Wigzo startup raises funds for expansion of business


Wigzo startup raises funds for expansion of business

Marketing automation startup Wigzo raises undisclosed amount in a bridge round
Wigzo startup raises funds for expansion of business

A Delhi based startup, Wigzo, is creating buzz in the market, after it successfully raised undisclosed amount in a bridge round. It was led by existing investor 3one4 capital.

Other significant investors who participated in the funding round include Aarin Capital and Advantedge Partners. Few angel investors also partake, including Arjun Sharma of Select Hospitality and Mohit Gulati of Altius Ventures. 

The Marketing automation startup will use these funds for expansion of business operations in North and South America. Also, new growth has enthused the company to recruit for leadership positions across functions both in India and abroad. 

Pranav Pai, founding partner of 3one4 capital says, “Wigzo has brought a change by retargeting efficiency to healthy spectrum of clients, especially early –stage product companies, media platforms, online retailers and financial institutions.”

Started in 2013, Wigzo’s founders include - Himanshu Kaushik, Mohammed, Vikrant Khushu and Shamail Tayyab.  Wigzo specializes in personalizing communication for brands across multiple channels through automation, including Facebook, email, push notifications and Google ads, all from a single dashboard.

Recently, another startup, Belong, a Bengaluru-based recruitment effectively raised 67 crore ($10 million) in its series B round funding. The funding was majorly led by Sequoia Capital, a venture capital firm. Belong assists companies to recruit employees using technology and will use these funds to widen its client base and improve its product.

Past few months have witnessed, recent surge in HR Tech Startups space. The HR Technology landscape has emerged as a strong magnet for investors in recent years. Funding and deal activity has increased by leaps and bounds, with the industry touching new heights in 2015-16. In both the years combined, HR technology startups raised $4.36 billion in funding across 733 deals globally (till 27th October, 2016). In India, there was a funding of $65 million across 47 deals in 2015 and 2016.

The rise of HRtech startups can be attributed to many factors. Mainly, the biggest reason could be  overall growth of the Indian startup ecosystem, which has empowered to new-age entrepreneurs and investors  to break the barriers and shed fears to start something new and radical.

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Topics: Technology

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