Convosight, a SaaS based community management platform, announced that it has raised $4 million in its pre-Series A funding from IvyCap Ventures and Sequoia Capital’s accelerator fund Surge.
The company plans to use the funds raised to strengthen its team across product and marketing functions as well as invest further to improve its technology and data science capabilities. Post this investment, IvyCap Ventures founder and managing partner Vikram Gupta will join Convosight’s board.
Sequoia Capital India’s Surge is a program that gives each startup a $1.5 million check and participation in a four-month program that’s split across India and Singapore, as well as the wider Sequoia global presence in China and San Francisco.
“There are half a billion engaged users across online communities in Facebook today, created by individuals, influencers, or businesses around common interests. Now more than ever, community admins need these tools to build and sustain meaningful communities and businesses,” said Convosight chief executive Tamanna Dhamija.
Convosight was launched in October 2019 by Tamanna Dhamija, Tarun Dhamija, and Kartik Bansal. It helps admins and brands to create, moderate, grow and leverage communities by using data analytics and machine learning. Currently, it has more than 2,500 communities with over 30 million members are using Convosight. This includes Fortune 100 companies such as Nestle, J&J, Reckitt Benckiser, P&G, and Abbott.
It currently provides a product suite that enables Facebook group admins to track growth trends and conversation insights, control spam, and manage content through smart recommendations.
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