[Funding alert] SaaS-based customer interaction platform Jumpstart raises seed round from Venture Catalysts
Venture Catalysts invests undisclosed amount in Mumbai-based Jumpstart; the marketing platform will use the funds to focus on 'industry-first innovation' to help small and businesses to adopt digital transformation.Sujata Sangwan
SaaS-based modern customer interaction platform Jumpstart, which allows local and SME businesses to enhance their online reviews and optimise customer communication, on Tuesday announced that it had raised a seed round of funding from Venture Catalysts. The funding amount is still undisclosed by the Mumbai-based startup. However, Venture Catalysts invests in the range of $250,000–$1.5 million in early-stage startups.
Started in late 2017 by Raghav Soni and Qamar Siddiquie, Jumpstart helps brands drive purchase decisions, brand visibility and customer experience. It has already acquired over 4,000 businesses across 50 verticals in the retail and service space, and helps drive 10x more online reviews with Reviewboost.
Raghav Soni, Co-founder, Jumpstart, said,
“This funding round will help us double down on our industry-first innovation, driving millions of businesses to adopt digital transformation going around them.”
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He added, “Jumpstart started with a mission to boost offline-based businesses, small and big. Local brands have seen growth of up to 40 percent in new customer footfalls by adopting Jumpstart's proprietary Reviewboost and social commerce features, and have become the most trusted businesses in their locations.”
The SaaS opportunity
According to a recent report published by Accel, India will be home to a $50 billion global SaaS opportunity by 2025. With a large number of SME and local enterprises turning the digital leaf, platforms like Jumpstart have a significant role to play as an enabler, bringing customers to these local enterprises and leveling the playing field in a highly competitive, digital-driven business ecosphere, the startup said.
Commenting on the investment, Dr Apoorv Sharma, Founder, Venture Catalysts, said, “VCats is always looking for businesses that can serve as a catalyst to the next phase of transformation. Jumpstart, in its role as the facilitator of local enterprises to develop a strong online presence and reach out to more consumers effectively, fits this role perfectly. The technological and product level maturity of Jumpstart, and its deep market research also prompted us to invest in this company at a seed stage.”
Earlier this month, B2B SaaS-based performance management platform Dockabl raised $1.26 million in its pre-Series A round, led by a pool of marquee investors including Aditya Berlia (Apeejay Group of Companies), Ritesh Malik (Guerrilla Ventures), Sanjay Kapoor, Angad Singh Malhotra, and Arun Kapur.