Looppanel, which allows product & design teams to analyze and share insights from Zoom-based user interviews in minutes, announced a USD 1 million Pre-Seed round of funding led by Speciale Invest. Additional funding is coming from First Cheque, angel investors and a grant from Sequoia Capital India as part of the Sequoia Spark program.
Looppanel was born from personal frustration – Kritika and Akash were running hundreds of user interviews at their previous startup Atlan, but the process turned very slow and painful quickly.
“We realized there was a big challenge for anyone building digital products today – in the age of Canva and Miro, if users don’t see the value of a product immediately they’ll take their business elsewhere. But how do you build a product users value and love when it’s so hard to run interviews & test your prototypes with them?” said Kritika, CEO & Co-founder of Looppanel.
Looppanel is a product built for Product Managers & Designers to rapidly test their assumptions and prototypes with their own customers. The product takes the unique approach of building a User Research solution for novice users – PMs and Designers who don’t have the time or know-how to conduct research effectively on their own – the way that Canva helped non-designers create beautiful designs.
“Product Led Growth (PLG) engines have put product distribution on steroids and led to a proliferation of tools (created over $200 Bn in market value). A critical element to PLG is understanding users – and Looppanel is the answer to powering user research and making user-centric product decisions.
As they say software is eating the world and we think design is eating software (code),” Vishesh Rajaram, Managing Partner, Speciale Invest.
Given that a vast majority of user interviews today take place on Zoom or Google Meets, Looppanel is building an infrastructure layer for rapid user research on top of these platforms. Looppanel streamlines user research – managing everything from setting up calls, to providing the perfect user interview templates, recording and transcribing sessions, and enabling teams to discover & share insights faster. Some of their most loved features include the ability to take time-stamped notes during a user conversation and the ability to share video clippings from a call with a single click.
“It was clear that (Looppanel) was one of the first tools made for doing true qualitative research for B2B. It was very easy to get my team on board with using it and it was ultimately a game changer for us in terms of being able to pull information out of our research calls. I would highly recommend it to any research team in need of speeding up their analysis processes,” Austin Brown, UX Research Team Lead at PandaDoc.
Looppanel is used by leading product, design and research teams around the world, including PandaDoc, Growens, Headout and Active911, among others. The funding raised by Looppanel will be used to grow their team as they add new capabilities to their product and expand their presence in key target markets across the US & EU.