[Funding alert] Hyderabad-based Froogal raises $1M from US-based angel investors
Froogal will use the latest funds to achieve greater geographical expansion, channelise global partnerships, and enrich its product. In addition to this, it is also looking to rapidly expand into Mumbai, Bengaluru, Chennai, and Gurugram markets.
Hyderabad-based customer loyalty and rewards programme platform Froogal on Tuesday said it has secured $1 million as part of its pre-Series A funding round led by a clutch of US-based angel investors.
According to the company, the latest funds will be allocated towards achieving greater geographical expansion, realising global partnerships, and product enrichment.
In addition to this, Froogal is currently looking to rapidly expand to Mumbai, Bengaluru, Chennai, and Gurugram markets. The company is also looking at channelising partnerships with global vendors.
Founded by Jeevan Chowdary M (Founder & CEO) and Harshit Harchani (Co-Founder & CTO), both Alumni of IIIT Hyderabad who graduated in 2017, Froogal is a customer loyalty programme management platform, which provides customers with aspirational rewards that are customised and goes beyond traditional cash rewards.
Catering to brick-and-mortar businesses, the company claims to leverage data-driven insights to deliver automated, personalised, and high-impact marketing campaigns. It combines customer data with modern technologies like AI and ML to offer advanced loyalty programmes, thereby helping companies better engage with their customers. The USP of Froogal lies in its omnichannel approach that allows customers to seamlessly redeem rewards, ask queries, and raise complains.
With an employee strength of over 50, the company's clients include Cream Stone, LOT, Big C, The Thickshake Factory, and Pista House, among others.
Speaking on the business and the recent funding, Founder and CEO of Froogal, Jeevan Chowdary M, said,
“Through our tailor-made offerings, we help brands develop loyalty programmes that can drive repeat business and build a community of loyal brand advocates. Broadly speaking, Froogal acts as an intelligent tool for CXOs, automating most of their marketing needs. With this round of funding, we aim to expand across new markets and target audiences. It will also help us strengthen our technological framework and diversify our product portfolio.”
At present, Froogal has three key offerings – Froogal Ascend, Froogal Seamless, and Froogal Consumer App.
Froogal Ascend includes customer loyalty and management, customer experience management, customer analytics with predictive and data-driven insights, engagement marketing with advanced automation techniques via SMS/email/push notification, social media, etc, and offers an engine with mobile marketing and referral marketing.
Whereas Froogal Seamless helps businesses adapt to omnichannel marketing strategy .i.e. creating an ecosystem for businesses to enhance their sales channels across web, mobile, etc.
(Edited by Megha Reddy)
Tarush is driven towards delivering unbiased and accurate reportage while engaging with as many mediums as possible to narrate a fresh perspective. Working for the past few years in the digital space with YourStory, he has covered the Indian technology ecosystem extensively, focusing on new age Fintech companies, while building strong connects within the industry.