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inFeedo raises $12M in Series A funding round led by Jungle Ventures

inFeedo raises $12M in Series A funding round led by Jungle Ventures
inFeedo raises $12M in Series A funding round led by Jungle Ventures

inFeedo, an Indian SaaS-based HR analytics firm, has reportedly raised around $12 million in a Series A funding round led by Jungle Ventures, with entities like Tiger Global as well as old investors like early stage venture fund, Bling Capital also participating in the round.

inFeedo helps enterprises gauge employee sentiments by serving as a bridge between employees and their employers, conducting surveys via a chatbot dubbed Amber, which inFeedo describes as a Chief Listening Officer.

The latest fundraise takes the total amount raised by inFeedo to $16 million since its inception in 2016. A portion of the new capital will go toward the firm's second ESOP buyback, which will benefit the entire workforce.

Other industry names, including Bhavin Turakhia, Zeta founder; Freshworks chief human resources officer, Suman Gopalan; Gainsight co-founder, Sreedhar Peddineni, as well as Ankur Warikoo, were among the other investors that took part in the round.

Tanmaya Jain, who alongside Varun Puri co-founded inFeedo, stated that the idea for the system was conceived while they were both still in school.

The inFeedo chatbot, Amber, is utilized by over 30,000 employees in countries like Singapore, Indonesia, Malaysia, and the Philippines. With its new funding, inFeedo wants to accelerate its go-to-market strategies in North America. The company currently has over 175 corporate clients across 60 nations, mostly in India, Southeast Asia, and the United States.

The chatbot is available in over 100 languages and inFeedo clients include the likes of Xiaomi, Samsung, TATA, Lenovo, Bharti, Godrej, Paytm, Unacademy, Lenovo, OYO, Tiket.com, JD.ID., Sunlife, Mediacom, Aboitiz, and BukuWarung.

Amber also establishes rapport with the staff members by recalling details from past conversations. Employees can communicate with Amber as frequently as they want, but Jain noted they usually have three to four interactions with Amber every year, each of which is about eight questions long and tends to take around two and a half minutes to complete.

Jain further added that the new funds will be used to introduce innovative products over the next two years, with the goal of creating an all-in-one employee communications platform with forecasting people analytics that requires zero effort from HR/IT.

inFeedo also intends to quadruple its revenue and double its staff and is now hiring for 140 remote positions in India, Southeast Asia, and the U.S., with a focus on marketing, engineering, product, as well as sales.

Source credit: https://techcrunch.com/2022/03/14/infeedo-gets-12m-to-help-employers-find-out-how-their-workforce-really-feels/

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Meghna Singh

An English Literature graduate, Meghna Singh ventured into the profession of content development to incorporate her knack for writing articles across verticals including technology, healthcare, business, and alike for News Origins and RunningAfrica. She has also completed her MBA in Tourism and worked as a content creator in the field of product development.