Betaout Inc., a customer intelligence and marketing automation platform for e-commerce companies, has raised US$1.5 million in Pre Series A round of funding.
The investors include Beenext, Stanford Angels, LetsVenture, Chennai Angels, Hyderabad Angels, and Mumbai Angels. Match Group CEO Sam Yagan, who had participated in Betaout’s seed round funding through Corazon Capital, also participated in this round.
Betaout will use the proceedings for customer acquisition in the Indian market, expansion in other Asian markets and scaling the team. It will also focus on developing its mobile offering and other features on its platform, such as Machine Learning and conversation-commerce.
Ankit Maheshwari, CEO and Co-founder of Betaout, said: “Our plans for 2016 include growing our existing customer base in the Indian market and expanding to other Asian markets including Indonesia and Malaysia.”
Founded in October 2014, Betaout is an all-in-one e-commerce and B2C marketing software platform. It allows e-commerce companies to build user intelligence databases and provides tools to engage with users through email, on-site engagement, mobile push, live-chat, SMS, and through other channels. It enables e-commerce companies to increase conversions and personalise user engagement using real time user persona and intent data.
Its revenue model is based on a monthly recurring subscription that is determined by the number of addressable contacts and messages sent.
Earlier, Betaout had raised US$500,000 from a group of CEOs/Founders of companies, including, Snapdeal, Paytm, Match Group (okcupid, Tinder), Groupon India, Freshdesk, Redbus, Slideshare, Goibibio, Shaadi, Slideshare, and Better Inc.