[Funding alert] Seekify raises $1.5 M from Sequoia Capital, 1Mg, and Healthkart founders
Delhi and Singapore-based customer experience SaaS platform Seekify has raised $1.5 million in seed funding led by Sequoia Capital India’s rapid scale-up program Surge with participation from angel investors, Nishant Rao (Founding Partner at Avatar Venture Partners), Gaurav Agarwal (1mg) and Sameer Maheshwari (HealthKart).
Seekify was founded in June 2019 by two serial entrepreneurs Arihant Jain and Ajeet Kushwaha. The duo were the founding members in the launch of 1mg and HealthKart and built ‘Joe Hukum’, a chatbot SaaS platform in 2015 that was acquired by Freshworks in 2017.
Seekify's software can integrated with different software of businesses, allowing them to aggregate all the data that drives their Customer Experience (CX). The platform helps teams to set clear goals and KPIs, providing data-driven insights using AI and ML and automates the workflows.
Seekify is currently available in Beta for enterprises - and the company has started multiple pilots with customers across the world. With the fundraise, Seekify will invest in strengthening its technology and hiring new talent across functions.
Arihant Jain, co-founder and CEO of Seekify said, “We are super excited to be a part of the Surge Program. We have a lot of respect for the Sequoia team, and the business value they bring to the table apart from funds. We couldn't have found a better partner for Seekify. Now the greater responsibility is to build a superstar team of people who believe in the vision of Seekify. We believe in People over Product over Profits - great people will build a great product and profit will follow.”
He added, “In today’s personalised economy, customers simply expect more - they expect you to know everything about them and tailor their experience accordingly. For any business, customer experience is the only true differentiator today. We are solving the problem of delivering the right customer experience.”
According to a report, the SaaS market is anticipated to grow at a compound annual growth rate (CAGR) of 21.2 percent during the forecast period 2018-2023. In fact, 2018 was a poster year for SaaS organisations as a whole because it saw several high-growth SaaS companies going public. Global spending on customer experience (CX) technology is forecast to increase from around $500 billion in 2019 to over 640 billion by 2022 as per the report. The global customer experience management market is projected to grow from $7.8 billion in 2019 to $14.5 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 13.3 percent during the forecast period.
Nishant Rao, Founding Partner at Avatar Venture Partners said, “I know Ajeet and Arihant from when Freshworks acquired their startup. I’ve worked with them personally and have seen them achieve great things during their time at Freshworks. They’re an incredible team - you don’t often see such a strong combination of product engineering and sales prowess in founding teams. It is impressive to see what they have accomplished in a short time with Seekify. Their understanding of CX space, ability to build global SaaS products, and strong international GTM experience make them do very well globally.”