New Delhi & Singapore-inFeedo, Asia’s leading employee experience platform, has announced $12M in Series A funding led by Jungle Ventures, with participation from Tiger Global and existing investors like Bling Capital. Other investors to join the round include top CHROs and founders like Bhavin Turakhia (Founder Zeta), Sreedhar Peddineni(Co-founder Gainsight), Suman Gopalan (CHRO Freshworks) and Ankur Warikoo. This brings the total capital raised since inception to $16M. In less than 18 months, the company has tripled its valuation and scheduled its second ESOP buyback for all employees as an opportunity for wealth generation, amongst other benefits.
Founded in 2016 by Tanmaya Jain and Varun Puri, inFeedo, headquartered in the US, is an all-in-one employee experience platform with people analytics that help predict attrition, burnout & disengagement in top talent. Their proprietary A.I. bot called Amber acts as a Chief Listening Officer to the CEO, has intelligent conversations with employees to find hidden gaps in their culture, managers and wellbeing in real time.
Commenting on the announcement, Tanmaya Jain, Founder and CEO of inFeedo said, “There’s never been a more critical time to put people at the heart of your business. This milestone isn’t about our series A, it’s about our A game. It’s about surrounding ourselves with A players who share a vision of helping companies build a culture where people love to come to work. It’s about conversational AI and people science teams coming together to build meaningful employee experiences. With both Tiger and Jungle now behind us, it’s finally time for inFeedo to roar. ”
Historically, Southeast Asia has been a challenging region due to the wide differences in the cultural contexts of Asian businesses, but inFeedo’s AI bot, Amber, can have intelligent conversations with employees in 100+ languages making it easy to build personalized experiences. Currently in SEA, inFeedo is the top choice for over prominent enterprises like JD.ID, Tiket.com, Mediacom, Sunlife, BukuWarung and Aboitiz. Amber speaks to 30,000 employees in Singapore, Malaysia, Indonesia and the Philippines. Going forward, the brand plans to continue its rapid growth in the region and accelerate go-to-market in North America.
The startup currently serves over 175+ people-first enterprises in more than 60 countries, with Amber having over 1.3 million conversations in the last year alone. Its customers include MNCs like Samsung, Xiaomi and Lenovo, conglomerates like TATA, Godrej and Bharti and unicorns like Unacademy, Paytm and OYO. Backed by conversational A.I. and 6 years of people science research, inFeedo has helped customers retain up to 85% of their top talent at flight-risk and achieve metrics as high as an 87 eNPS.
John Curtius, Partner at Tiger Global added, “We are excited to partner with Tanmaya and the inFeedo team. We believe they will be a leader in the employee listening market.”
Arpit Beri, Principal at Jungle Ventures added, “The relationship between employees and companies is changing radically, forcing leaders to rethink their approach to their most precious resource: talent. The kind of encouraging on-ground feedback we received from all stakeholders, be it the customers, the competitors or even the ex-employees makes us extremely excited to partner with inFeedo, as they set out to redefine employee engagement for global enterprises.”
Charged with fresh funds, inFeedo aims to triple their product line, quadruple revenue, double their team and accelerate growth in Southeast Asia, India and the US, in the next couple of years. To accomplish this, the startup is currently hiring for over 140 remote roles across all functions, especially marketing, product, engineering and sales in these regions.
Earlier in 2020, inFeedo had raised from Y Combinator, Girish Mathrubootham (CEO Freshworks), Peyush Bansal (CEO Lenskart) and Ritesh Malik (Founder innov8).