SaaS-based analytics startup inFeedo recently announced that it had raised its pre-Series A round of funding. The round was closed at $7,00,000, and was led by Y Combinator. A couple of Indian founders and CEOs also took part in the round.
inFeedo has been selected for Y Combinator’s Summer 2020 batch, which is taking place remotely due to the COVID-19 pandemic.
Apart from Michael Seibel, CEO at Y Combinator, other investors participating in the round are Ritesh Malik (Founder of OYO-acquired Innov8 Co-working), Peyush Bansal (CEO at Lenskart), Vinod Muthukrishnan (CEO at Cisco-acquired Cloudcherry), Anand Chandrasekaran (former Snapdeal CPO and Facebook Director), Sunder Nookala (CEO at OC Tanner-acquired Kwench), Anil Advani (CEO at Inventus Law), and 100x Entrepreneur Fund, that led an oversubscribed syndicate via LetsVenture.
inFeedo plans to use the freshly raised funds to double down on hiring and fill up key management roles including that of a COO, CMO and CTO. The SaaS startup plans to expand its customer base, to generate revenue worth $10 million.
Founded in 2013 by Tanmaya Jain, inFeedo launched its employee-experience bot Amber in 2016, to help the HR functions of global organisations. The employee-experience bot can have conversations with remote employees and predict employees who are disengaged or about to leave.
Amber thus helps CEOs and HR leaders get an immediate pulse of employee pain points across teams. It helps to identify culture, diversity, and leadership gaps.
According to inFeedo, Amber currently engages with more than three lakh employees at over 100 enterprises, with a minimum workforce strength of 150 or more, across the world. It is currently being used by companies including ABinBev, Puma, ITC, Nivea, Lenovo, Britannia, OYO, Unilever, Airtel, and MakeMyTrip, among others.
The company’s ARR stands at $1.6 million, and it claims to be growing at 100 percent year on year.
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