inFeedo story goes back to 2013 – a time when founder Tanmaya Jain was still studying at Shiv Nadar University. Tanmaya and his batchmate Varun Puri wanted to develop something around AI. They identified a huge gap in HR analytics and researched thoroughly on how AI (NLP precisely) can be leveraged to bridge the gaps in employee engagement. 3 years later, in 2016, they graduated from college and laid the foundation stone of inFeedo. The idea was straight-forward – build a bot that would engage with employees and use NLP algorithms to identify those employees who seem disengaged. Four years down the line, ‘Amber’ is today actively catering to 300,000+ employees in 100+ companies across 50+ countries. These companies include the likes of GE Healthcare, Puma, MakeMyTrip, Times Internet, Genpact, Oyo, and Tata, amongst others.
While the team has had success in business, Tanmaya has had a love-hate relationship with fundraising, and ironically when he couldn’t manage that relationship – he decided to ensure inFeedo stayed a cash flow positive company, doing $10 M in revenues annually.
Today, inFeedo has raised a pre-Series A round of $700,000 from Y-Combinator and several angels on LetsVenture only because now with the global COVID19 pandemic and remote work and employee engagement becoming vital; it really is time to expand and grow market share. “While most of our competitors are slowing down, we are fundraising to double down in Southeast Asia and build a leadership team that can further our global footprint,” said Tanmaya.
In this edition of #LVStartup Stories, Tanmaya talks about Amber, his personal take on the ‘funding game’, the Y-Combinator experience, and why he loved working with LetsVenture in India to close his funding with marquee angels like Peyush Bansal (Lenskart), Ritesh Malik (Innov8), Anand Chandrasekharan (former Snapdeal CPO and Facebook Director) via Siddarth Ahluwalia’s 100x Entrepreneur Syndicate.
Watch the video here:
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