[Funding alert] Gurugram-based Wobb has raised Rs 2.1 Cr in pre-seed round
Influencer marketing automation platform Wobb has raised Rs 2.1 crore in a pre-seed funding round. The funds will be used for enhancing its product experience and building a strong leadership team.
Monday October 25, 2021,
3 min Read
Gurugram-based influencer marketing automation platformhas raised Rs 2.1 crore in pre-seed round from lead investors Titan Capital led by Kunal Bahl and Rohit Bansal ( Founders) and Point One Capital.
According to the official statement, the round also saw participation from marquee group of angel investors including Alok Kohli (Senior Director, PepsiCo), Sanjeev Bhargava (ex-Managing Partner, JWT) among others.
Founded in 2020 by Ishan Jindal, Wobb is aimed at simplifying influencer hiring and improving measurability using Wobb’s pixel technology, which provides data including sales, traffic, impressions from the influencer campaigns.
Using Wobb, marketing managers get access to influencers for their marketing campaigns needs and influencers also get access to tools to participate in hundreds of campaigns in one place, send their work for proofing and approval. It helps brands and influencers to engage transparently and in a time-bound manner.
The startup is looking to utilise the fund for enhancing its product experience and to build a strong leadership team.
“With the latest round of funding raised, we aim to accelerate our product roadmap journey with even better experience for our influencers and marketers. We are organically growing 100 percent month-on-month and seeing high retention and repeatability among our customers. We are also witnessing increasing marketing spend over time, which is translating into higher incomes for our influencers as well. We are glad to be backed by industry leaders who understand our area of work,” Ishan says.
Wobb claims to have completed 5,000 influencer campaigns since launch and is working with over one million micro, macro, and category A influencers across 100+ categories. It claims to have worked with major brands such as HDFC Life, Plum Goodness, Emami, BIBA Apparels, and Casio trust Wobb for their influencer marketing needs.
Speaking about the funding, Bipin Shah, Partner at Titan Capital, explained that influencer marketing is helping the brands to attain growth and maintain the trust factor among its consumers.
Meanwhile, Mihir Jha, Founding Partner, PointOne Capital, said that nowadays influencer marketing has become an essential part of the marketing mix for brands across sectors. He added that the current processes that facilitate influencer transactions are broken.
“Discovering the right influencers is a pain, there is no transparency nor pricing standardisation, payments is another challenge, and finally tracking ROI is simply non-existent. It’s time launching and tracking influencer campaigns became a productised experience, at par with launching a Google ad or a FB campaign. Wobb is driving this fundamental shift from the status quo through its focus on simplicity, transparency, measurability and automation. We are proud to be partnering with them,” he said.
Edited by Megha Reddy