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 (amber.infeedo.com) 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.
Word from Founder: “With a phenomenal response from over a 100+ HR Heads across the country, we’ve reached a stage where we’re almost unable to deal with the incoming interest. We are currently live with 16+ companies and are on track to touch more than 10,000 paid users by the end of the year 2016. The investment further validates our disruption in HR analytics and employee engagement but we required the funds to help us deal with scale,” said Tanmaya Jain, Founder at inFeedo.
Why did Ameera invest: “I liked the inFeedo pitch – it was focused, proof of concept was done with happy customers and the team seems to have the right ingredients to take this forward.” – Ameera Shah, CEO of Metropolis
Why did Vivek invest: “inFeedo’s pitch was one of the most articulate presentations I’ve ever heard! Being one of the few companies with solid enterprise clients, the passion of the team was just awesome.” – Vivek Bhargava, Group CEO of DAN Performance
The company will invest the funding in chatbot’s machine learning, natural language processing and predictive analytics capabilities. inFeedo also plans to leverage the raised capital for marketing & hiring the best talent.
inFeedo recently participated in a reality show called the The Vault Show where chosen entrepreneurs get 5 minutes to pitch to investors on the show. inFeedo got selected to present its 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.
Companies like inFeedo are being acquired by giants like Microsoft, Google. I am very proud of team inFeedo since they are running this startup to solve real life problems and are not looking at this startup as a way to make money. Indian startup should focus more on business and less on making money by selling their company. We wish inFeedo all the very best for their future. Read more Startup News.