NeoDove, a sales and marketing automation platform, announced it has raised $1.5 million in seed funding led by India Quotient, according to ET report.
A clutch of angel investors including Vyapar founder Sumit Agarwal and WakeFit founder Ankit Garg also participated in the round.
NeoDove, which helps small and medium businesses (SMBs) in sales and marketing automation, had raised its angel round in August 2020.
The company will utilise the funds for product development and international growth expansion, while also widening its customer base.
Founded in January 2020 by Arpit Khandelwal, who has earlier worked with Ola, and Ankit Kumar Agrawal, who has previously worked with CarDekho, the platform has gained over 1,600 users in the past year of which close to 200 are paid. This year, it is targeting to reach $1 million in annual recurring revenue by expanding its user base to over 20,000 and paid customers to 2,000 from domestic as well as international markets, it said.
Commenting on the investment, Madhukar Sinha, cofounder and General Partner at India Quotient, said: “Small and medium businesses are under a lot of pressure to digitise and this is going to be a massive opportunity for growth. We believe SaaS-based automation tools for SMB’s will be a game-changer and are excited that NeoDove is very well positioned to capitalise on this opportunity.”
“NeoDove’s products are designed to help SMB’s engage customers across the entire digital ecosystem more intelligently and efficiently, by way of our identity-based data and predictive AI,” said Arpit Khandelwal, co-founder, NeoDove. “Covid-19 has forced many businesses to rethink their customer experience and our automation solutions have helped them make a swift and effective cloud transition.”
Neodove has a client portfolio spanning across various industries – RealEstate, Automotive, Edutech, Fintech, and Healthcare.
