[Funding alert] Protonn raises $9M seed round led by Matrix Partners India, 021 Capital, Tanglin Venture Partners
Bengaluru and San Jose based business-in-a-box platform for professionals Protonn on Friday said it raised $9 million in seed funding led by Matrix Partners India, along with 021 Capital and Tanglin Venture Partners.
Angel investors, including Binny Bansal (Co-founder, Flipkart), Kalyan Krishnamurthy (CEO, Flipkart), Neeraj Arora (ex-Whatsapp), Sujeet Kumar (Co-founder, Udaan), and Kunal Shah (Founder, CRED) also participated in the round.
The startup will use the funding to hire new employees, launch its product in the market, and continue product development.
In a press statement, Anil Goteti, Co-founder of Protonn, said, “Independent professionals power the economic engine of the world. In the US alone, nearly 60 million independent professionals generate more than $1.2 trillion in annual earnings — that’s 36 percent of the total US workforce. 'Proto' in greek means 'first', and Protonn’s purpose is to put the needs of those millions of professionals first to help them thrive.”
The funding comes at a time when Protonn launched its product to its first users in the US after months of product development and beta testing.
The company said, with Protonn, independent professionals can grow their businesses by creating powerful, professional videos in minutes, which they can share on social networks and with business prospects.
Independent professionals can now download the app from the Apple App Store. The company will also be launching an Android app and web versions in the coming months.
Mausam Bhatt, Co-founder, Protonn, said, “Video technology in professional settings hasn’t kept pace with advances on the consumer front pioneered by apps like Snapchat and TikTok. Protonn is leading that change by providing professionals with an easy way to market themselves using video and manage their business.”
The startup was founded in November 2020 by Anil Goteti and Mausam Bhatt. Goteti served as the senior vice president of marketing and ads at Flipkart, while Mausam was the head of product management for Google Commerce (Buy on Google).
Vikram Vaidyanathan, Managing Director, Matrix India, said, “Protonn’s video-first and mobile-first approach combined with a superior product experience will redefine how professionals grow their business and engage with their customers in a post-COVID world.”
He added, "The rise of the independent professional calls for new solutions, and Protonn is poised to meet the market demand. With their deep expertise in building scaled products, Anil and Mausam bring together a unique set of capabilities, and we’re privileged to partner on this journey with them.”
Protonn has an international workforce with staff across the US, Europe, and India. Protonn hires top talent irrespective of an individual’s physical location.