HeyoPhone’s $500K Funding to Fuel Expansion into Bharat’s SMB Market

HeyoPhone, the ingenious communication app dedicated to serving India’s thriving small and medium-sized business (SMB) community, is excited to announce the successful conclusion of its angel funding round, securing an impressive 500K USD in investment. The round witnessed enthusiastic participation from renowned super-angels who bring their expertise to the table: Aakash Chaudhry, co-founder of Aakash Educational Services (Aakash-Byju’s); Amit Chaudhary, co-founder of Lenskart; and Dinesh Gupta, co-founder of Busy Accounting.

Tailored exclusively to cater to the unique requirements of India’s extensive SMB sector, HeyoPhone presents a refreshingly simple solution for businesses to effortlessly connect with their valued clients, all through a unified, intelligent number. With HeyoPhone, business proprietors can seamlessly oversee their entire spectrum of communication needs, encompassing calls and WhatsApp interactions, all within a singular platform. This comprehensive approach fosters a consistent brand identity, a centralized customer database, and comprehensive business analytics – all united under the umbrella of what is now known as the “Bharat ka business number.”

Amid India’s ongoing digital transformation, HeyoPhone emerges as a pivotal player in aligning businesses with the progressive ONDC (Open Network for Digital Commerce) framework, thereby expediting the digitization journey for small enterprises. As HeyoPhone continues to drive innovation in communication technology, it stands poised to empower India’s SMB community on their path to digital success.

Ankit Jain, the Co-founder and CEO of MyOperator and HeyoPhone, said, “The untapped potential within the business communication market is substantial, and it is poised for rapid expansion through the integration of conversational AI. Historically, communication has been an integral component of commerce. However, with the emergence of conversational-first interfaces, communication is now positioned to actively drive commerce.”

He further emphasised, “We envision ourselves contributing significantly—potentially surpassing 5% of the SMB GDP in the coming years. The prevailing market dynamics are favourably aligned, and the confidence demonstrated by our investors in our leverage is remarkable. This infusion of funds will play a pivotal role in propelling our trajectory toward our visionary goals,”

Heyo has shown exponential growth from its launch in early 2023, crossing 100K KYCs and over 10000 paid customers.

Rimjhim Ray, Co-founder and Chief Marketing Officer of HeyoPhone, commented, “Heyo’s trajectory within India’s 50 million-strong SMB landscape has been nothing short of remarkable. Our growth has been fueled by automated on-boarding, an intuitive user interface, and robust word-of-mouth referrals, which have effectively limited our acquisition costs to below Rs 200. We have raced to half a million downloads and 100000+ KYCs in 6 months and our sights are set on reaching a million small businesses in India within the next 3-5 years. Alongside, we also recognise the significant demand for our app in emerging economies across Asia, LATAM and Africa.”

Harnessing the potential of generative AI, HeyoPhone aims to convert SMBs’ everyday interactions into dynamic commerce opportunities. This groundbreaking approach will streamline processes such as order placements, appointment scheduling, and transactions, all executed seamlessly through voice and chat interfaces. HeyoPhone’s strong foundation is powered by MyOperator, an industry-leading cloud communications provider in India. Established in 2013 by Ankit Jain and Pratik Jain, MyOperator boasts a client base of over 10,000, delivering versatile omnichannel call centre software and enterprise mobility solutions to corporates.

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