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FUNDING

NowFloats raises $10M funds but announces it a year after

Digital enablers of small and medium business startup NowFloats announces their successful funding of $10M a year later. The announcement was done by Co-founder Jasminder Gulati on his twitter account. This was a series B round and the fund were raised from Iron Pillar Capital and IIFL, along with existing investors Blume Ventures & Omidyar Network.

Jasminder Gulati thanks the investor a year after raising funds and tells that this announcement is still important. This start-up was founded by ex-Microsoft and Saatchi & Saatchi employees in early 2012. NowFloats was recognized by Business Today Magazine as one of the 16 Coolest Start-ups of 2014. It was also the recipient of the prestigious Microsoft BizSpark Award for the most innovative start-up (mobile category) in India in 2012. It was part of NASSCOM’s Emerge 50 Program 2013, TechCrunch top 30, represented India at Start Tel Aviv, and was at the People’s Stage at Dublin WebSummit 2013, and Best App Award’for @nowfloatsboost at Google’s #thinkmobile 2014.

Commenting on the announcement, Neeraj Sabharwal, Co-founder, NowFloats said, “At NowFloats, we have always believed that an SME needs to talk about their business regularly (talk about product features, new offers/events, reviews, etc.) to attract more customers online. Our product is geared towards making it as simple as possible for business owners to interact and add updates to their online identity. This is what primarily fuels the automated SEO engine of NowFloats. We at NowFloats want to re-define the market for business websites, where the business owners only have to worry about the content on the website, and the technology takes care of other aspects like design, performance, discovery (SEO), marketing (SEM), enabling transactions (payment gateway) and customer/lead management, etc.  We are investing in creating a product that would be one day used by all the SMEs across the globe, and built out of India.”

Adding his bit, Anand Prasanna, Managing Partner, Iron Pillar, said, “NowFloats’ focus on product, and fundamental business sense resonates well with Iron Pillar’s beliefs that great businesses need to be built on solid foundations. We love working closely with this high energy team, and are eager to help them specifically in structuring and focusing sales efforts, growth initiatives in the next few years, and improving pre-identified key business metrics. We also look forward to help building the business meaningfully beyond India through Iron Pillar’s networks, especially in Asia Pacific and the US.” Read more on Indian Startup News.

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NowFloats raises $10M funds but announces it a year after
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