[Funding alert] Email marketing startup Mailmodo raises $2M from Sequoia’s Surge, Y Combinator, others
Bengaluru-headquartered no-code email marketing startup Mailmodo has raised $2 million in seed funding, led by Sequoia Capital India’s Surge, Y Combinator, and existing investors.
Founded in 2020 by Aquibur Rahman, Apurv Gupta and Devyesh Tandon, Mailmodo, which operates on a SaaS model, brings rich functionality to email marketing to help businesses get better conversions on communications.
Mailmodo will use this round of funding for product development and market expansion.
At the present, the startup is recording a growth rate of 30 percent on month-on-month basis with presence in US, Latin America, South East Asia, India, and Europe.
Mailmodo was among the startups in the fifth cohort of Sequoia Capital India’s surge programme.
“Emails got some much needed innovation when Google released AMP for email and announced that all Gmail clients will support AMP emails. We saw this as an opportunity to create app-like experiences inside emails, making it seamless and frictionless for a user to take a desired action,” said Aquibur Rahman, Co-founder, Mailmodo.
According to Statista, over 300 billion emails are sent every day. Most of these emails, however, are either ignored or deleted, or opened and then forgotten – making it a struggle for businesses looking to drive results from their email marketing campaigns. Long user journeys - from inboxes to websites or landing pages - result in low conversions.
Mailmodo says it cuts the user journey by using AMP (Accelerated Mobile Pages) emails, allowing higher engagement and conversion rates.
Recipients of AMP emails can take actions requested in the message through forms, checkout flows, calendar appointments, surveys, and more – all without having to leave their inbox.
By reducing the number of steps a user has to take, Mailmodo leads to a conversion rate that’s 3X higher compared to regular email campaigns. On top of bulk email campaigns, Mailmodo also enables businesses to send automated, trigger-based emails.
Mailmodo is currently used by clients from diverse industry verticals including edtech, fintech, ecommerce, and SaaS.