SaaS startup inFeedo raises $700k in Series A round from Y Combinator

In 2016, inFeedo launched its employee-experience bot Amber, to help the Human Resource functions of global organisations. Founded by Tanmaya Jain in 2013, the employee-experience bot can have conversations with remote-working employees and predict employees who are disengaged or about to leave.
inFeedo is currently connected with more than 3 lakh employees across the globe through its AI-chatbot Amber. It has seen an increasing demand from Human Resource executives across companies for its chatbot wherein the focus is less on controlling attrition but more on connecting with employees better, keeping their morale high & understanding their sentiments and issues.
It is currently being used by companies including ABinBev, Puma, ITC, Nivea, Lenovo, Britannia, OYO, Unilever, Airtel, and MakeMyTrip, among others.
This SaaS-based analytics startup recently announced that it had raised its pre-Series A round of funding. The round was closed at $7,00,000 and was led by Y Combinator along with other investors.
Tanmaya Jain, CEO and founder at inFeedo, said,
“In spite of running a cash-flow positive business, our main aim to fundraise during the pandemic was to double down in Southeast Asia and build a leadership team that helps customers remotely connect with their employees better and come out of COVID-19 stronger than before.”
They plan to expand their product as a function to be able to respond to Covid-19 that has affected several organizations. For now, growth of the product has been kept in mind while the remaining team hustle to help customers and inFeedo afloat during these challenging times. With Amber, they are utilizing artificial intelligence (AI) and which has its own predictive analytics dashboard that helps the chatbot generate actionable reports, which can be configured by enterprises, based on their own requirements. Amber works on a simple engagement and identity model.
Ritesh Malik (Founder Innov8) says,
“Having benefited directly from Amber at OYO, as a customer, I was already motivated to invest in inFeedo as a company with a strong value system that’s always prioritised customer advocacy over investor relations.”

– Authored by GVSK Vedant

  Content Developer, StartupMonk

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