A sales intelligence start-up, PipeCandy has raised seed funding of $1.1 Million (Rs7.3 Crore) from IDG Ventures India, Axilor Ventures, Emergent Ventures, Indian Angel Network and other prominent investors on Wednesday.
The Chennai-based startup was founded in February 2016 by Ashwin Ramasamy and Murali Vivekanandan. PipeCandy software predicts prospects and emails them at the right time which finds and ranks relevant leads from e-commerce and retail businesses, using data sciences. It offers industry-specific sales prospecting services such as custom lead lists by tech, business model, and custom criteria and it also offers outbound strategy, conversion-oriented emails, and customised data acquisition services. The clients of the company are freshdesk, ZARGET, zenplanner, FarEye, Chargebee, and CODEMIND.
Ashwin Ramasamy, CEO of PipeCandy said, “We track about 50 million companies and 110 million decision makers, who are typically above manager level. We do a combination of crawling for our own information and we also have data partners which give us the commodity data, for instance email ids and phone numbers. We buy that data also. On top of that, we have a data science team which runs industry specific data science model. We are a data insight company.”
The startup headquarters is in California, but all the operations are undergone at Chennai. PipeCandy uses data science techniques to discover the right possibilities for B2B sales and helps in segmenting the prospects based on specific refinement to their respective industries.
On the Investment, Ranjith Menon, executive director at IDG Ventures India said, “The PipeCandy platform offers a great proposition for customers by applying these technologies to outbound prospecting. Globally this is a very under-penetrated space with only about 3% of the companies adopting technology to reach out in a structured manner. This is the opportunity that IDG is very excited about.”
PipeCandy will use their freshly raised funds to expand the data science team, product developing, improving into other categories such as healthcare, commercial real estate and R&D works. Read other startup who got seed funding.