Delhi-based digital analytics startup PropheSee has raised $516,000 in angel round led by
Indian Angel Network (IAN), Stanford Angels and Entrepreneurs India (SA&E India). This is SA&E’s first investment, since launching in July.
The funding will be used towards building more industry specific analytics and modules, investing in predictive algorithms and data visualisation methods.
Following the round, Ajay Lavakare, who was MD of RMS Risk Management Solutions India, will join PropheSee Board as Director along with Sujal Shah, CXO and Investor at MissMalini Media). Ajay Lavakare, Bikky Khosla and Satveer Thakral are the lead investors in the company.
PropheSee is a Software as a Service (SaaS) platform that empowers brands with data driven insights that allow managers to compare and analyse digital campaigns and execute directly from the platform.
Founded in 2014 by Ishaan Sethi, Harshil Gurha and Jitesh Luthra, PropheSee plans to build audience listening and community management capabilities and testing new methods to measure consumer engagement and intent among other behaviours.
Speaking about thesis behind investment, Ajay Lavakare, “With its affordable cost to small and medium businesses and its focus on empowering companies to understand and act upon their social/digital performance, PropheSee has the potentiall to scale rapidly.” Ajay is part of both IAN and SA&E. Stanford Angels set up its Indian chapter in July and has about 60 entrepreneurs and investors.
Commenting on the investment, Paula Mariwala, Founder and Co-President of SA&E India said, “With this investment, PropheSee will be able to leverage the Silicon Valley and Stanford University connections of the Stanford Angels members to continuously innovate on its technology and business model to stay ahead of competition, and also attract great talent.”
Stanford Angels will continue investing in startups across genres, however its focus will be on tech-enabled businesses. “We are collaborating with other angel groups, accelerators, events and incubators to fortify our presence in overall ecosystem,” adds Mariwala.
Besides serving brands like Faith Connexion, Rock N Shop, NDTV’s Indian Roots, Miss Malini,and PVR Cinemas the company also worked for political parties in India in the past.