Marketing automation startup Betaout raises $1.5 mn from Beenext, Stanford Angels, others
Betaout will use this round of funding for customer acquisition in the Indian market and expansion in other Asian markets as well as will also focus on developing its mobile offering and other features on its platform like machine learning, conversation-commerce, among others
Betaout Inc, a customer intelligence and marketing automation platform for eCommerce companies, has raised USD 1.5 million (about Rs 10 crore) from a clutch of investors including Beenext and Stanford Angels.
The Pre Series A funding saw participation from investors including Beenext, Stanford Angels, Letsventure, Chennai Angels, Hyderabad Angels and Mumbai Angels, Betaout said in a statement. Match Group CEO Sam Yagan, who had participated in the Betaout’s seed round funding through Corazon Capital, also participated in this round, it added.
Betaout will use this round of funding for customer acquisition in the Indian market and expansion in other Asian markets as well as for hiring professionals across technology, marketing and account management, it said.The company will also focus on developing its mobile offering and other features on its platform like machine learning, conversation-commerce, among others, it added.
In the seed round, the company had raised USD 500,000 from CEOs/founders of companies including Snapdeal, Paytm, Match Group, Groupon India, Freshdesk, Redbus, Slideshare, Goibibio, Shaadi, Slideshare and Better Inc.
Founded in October 2014, Betaout provides clients real time big-data, segmentation-based on business rules and machine learning and omni-channel personalisation. Betaout’s target market is SMBs, which is a large category in India. The tools of the company enables its customers to build marketing experiences for customers and drive more customer engagement and revenue.
“Our plans for 2016 include growing our existing customer base in the Indian market and expanding to other Asian markets including Indonesia and Malaysia,” said Ankit Maheshwari, CEO and co-founder, Betaout.
