WittyParrot raises a Seed Series from Silicon Valley-based angel investors
Founded in 2012 by Anil Jwalanna, Witty Parrot has raised a million dollars of Series Seed from Silicon Valley-based angel investors like Som Das.
WittyParrot is a SAAS product. It is a platform for creating reusable content components and delivering them via a drag and drop widget to any device or application, to improve productivity, message consistency and speed of response. It seems the product’s proposition of helping companies ‘speak with one voice’ resonates with big players and seasoned angel investors alike. The product has found customers in Fortune 500 players like VMWare, Kaizer and RMS among others.
A team of 35, WittyParrot is headquartered in California with an office in Bangalore. Rajesh Setty is the co-founder of the venture.
“We are going to deploy the seed capital in further deepening the product capabilities by building data science and big data components into the product. We will also be using the money for sales and marketing activities,” Anil Jwalanna told YourStory.
“We are also starting operations in Singapore soon and have already got a full-time employee on board.”
What makes WittyParrot’s story stand out is the hold they have been able to achieve in a short span of time. The product came out in mid-November last year, and since then WittyParrot has generated half a million in revenue.
“WittyParrot helps salespeople do their job faster which puts extra selling time back in their pocket. A mere 30 minutes of additional selling time translates to a 21% improvement in productivity. Most sales apps (like CRM) actually consume more time than they free up. WittyParrot is one of those unique tools that really does save reps time. The fact that it also helps them engage with prospects more effectively is the icing on the cake,” says Nancy Nardin, Founder, Smart Selling Tools.
Som Das, Founder of Business Accelerator and an investor in the product, says, “We invested in WittyParrot because we see tremendous opportunities for enterprises to rise above the din of unmanaged content and to use the WP platform in a concise and focused manner to deliver desired business results.”
The WittyParrot team believes that their addressable market is large, as any email user is a potential customer. The team will initially focus its marketing efforts in the CRM space. That market according to Gartner will be $18.4B in 2016. The sub-segments in this category are customer service and support, marketing automation and sales. Anil says, “WittyParrot has applicability in all three sub-segments and our initial top-down calculations show that the market size for us is north of $3B in this category.”
Check out WittyParrot and tell us what you think of the product.