[Funding alert] SaaS platform Locobuzz raises Rs 9Cr in pre-Series A from SIDBI Venture
Mumbai-based Locobuzz Solutions — a unified digital customer experience SaaS platform — on Tuesday, said it raised Rs 9 crore in a pre-Series A round from Maharashtra State Social Venture Fund of SIDBI Venture Capital Limited (SVCL).
The SaaS startup will utilise the funds to enhance its platform's technological capabilities, scale up its team across functions, and marketing and sales efforts.
Founded in 2015 by Vishal Agarwal (CEO), Shubhi Agarwal (COO), and Nitin Agarwal (CTO), Locobuzz empowers B2C brands with real-time data analytics, consumer experience automation, consumer insights, and social media management, including publishing, listening, analytics, and engagement.
The SaaS platform works with most of the leading brands in the country across key consumer-facing business verticals, ranging from BFSI, telecom, automobile, retail, FMCG, ecommerce, etc.
Vishal Agarwal, Co-Founder and CEO, Locobuzz
Speaking about the startup's first institutional funding, Vishal Agarwal, Founder and CEO, Locobuzz, said,
“This round of funding is really encouraging, and we are excited to partner with SIDBI Venture for our next phase of growth. In the next couple of months, we will direct our attention towards further product development, business growth, and marketing initiatives. We will be able to offer a lot more to our client partners.”
Locobuzz claims to serve a series of Fortune 500 clients and has created enduring partnerships with various brands based on its product capabilities. It helps clients streamline their customer experience processes, leading them to create long-lasting relationships with their customers, and position themselves as thought leaders in their domain.
Commenting on the funding, Senior Fund Manager Mahendra Lodha, Vice President and CS, SIDBI Venture Capital Ltd, said, “We are happy to see Locobuzz as a leading Unified Digital Customer Experience platform, which services clients across key consumer-facing businesses. We look forward to working with Vishal and the team in Locobuzz to grow amidst a large market opportunity.”