NeoDove, a Sales and marketing automation platform has acquired $1.5 million in seed funding led by India Quotient. Several angel investors including Vyapar founder Sumit Agarwal and WakeFit founder Ankit Garg also participated in the round.
NeoDove, which aids small and medium businesses (SMBs) in sales and marketing automation, had secured its angel round in August 2020. The startup plans to utilize the funds for product development and expansion in the international market, while also expanding its customer base.
Founded in January 2020 by Arpit Khandelwal, who has previously worked with Ola, and Ankit Kumar Agrawal, who has earlier worked with CarDekho, the platform has gained over 1,600 users in the last year. This year, it is aiming to reach $1 million in annual recurring revenue by growing its user base to more than 20,000 from domestic as well as international markets, it said.
Commenting on the development, Madhukar Sinha, cofounder and General Partner at India Quotient, said: “Small and medium businesses are under a lot of pressure to digitize 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 capitalize on this opportunity.”
They will also grow their team from 20 to 60 by the end of 2021.
Its customers are spread across multiple industries including automobile, real estate, education, and healthcare among others. Zoho and Freshworks are other players in the segment.
“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.”
The company is also currently recruiting professionals for various positions like Performance Marketing Manager, Sr. Manager HR, Engineering Manager, Full Stack Developer (SDE-II), Digital Marketing Manager, SEO Marketing Manager, Marketing Head, Sales Head, Flutter Developer, and UI/UX Designer. Applications for all of these posts could be sent by visiting the careers section of the company’s website.