ProfitWheel raises $3M in seed round

profitwheel funding

ProfitWheel, a SaaS startup, announced that it has secured a total capital raise of $3 million in its seed round.

The startup raised 50 percent of the total investment from Netcore Cloud, a leading acquisition, engagement, and retention company, and ProfitWheel co-founder, Vivek Bhargava. 

The remaining investment was poured in from over 15 angel investors including Vallabh Bhansali of Enam Group, KRS Jamwal of Tata Group, Dinesh Agarwal from Indiamart, Prashant Gulati – Investor and Trustee, Tie Global Board, Rizwan Koita, Jagdish Mathur of CitiusTech, Jimmy Mahtani from Baring Private Equity Asia, and Harish Bhal and Manish Vij of the Smile Group.

Established in 2020, ProfitWheel is focused on building a customer data-led marketing intelligence platform for the new D2C world.

With the new investment, the company is poised to fill the need gap created by the latest changes in the adtech ecosystem, the company stated.

Vivek Bhargava, Co-founder, ProfitWheel, said, “ProfitWheel has been conceptualized as a global SaaS product company with the dream to become a multi-billion dollar enterprise. We aim to deliver more profit to our customers – by providing more intelligence on how to best engage with their existing or new customers. We will continue to disrupt the adtech world by creating products that will delight the ecosystem and change the way that advertising is perceived. We are very fortunate and excited to have such respected industry leaders backing the company on the next phase of our journey.” 

Commenting on the investment, Rajesh Jain, Founder and MD, Netcore Cloud, said, “I have been associated with Vivek Bhargava for more than a decade and have been deeply involved in ProfitWheel’s journey from its inception. As marketers enter a cookieless era, there is a dire need to look at newer technologies to engage with their customers effectively. ProfitWheel solves these challenges for brands by utilizing first-party data in a privacy-compliant manner. The company is laying the foundation for a future where D2C companies drive exponential forever profitable growth. I am excited by this unique offering and the leadership team’s strengths and happy to support the business.”

ProfitWheel seems to have positioned itself well in the market. I believe the company will continue to reach new heights of success in the time to come. My best wishes to the team of ProfitWheel.

Shishir Gupta, Founder and CEO, StartupLanes

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