Delhi-based online customer feedback platform Akosha has raised $5 million from existing investor Sequoia Capital, reports The Economic Times. Prior to this, it had raised a seed investment of $200,000 from Sequoia Capital in September 2011.
The funds will be used to improve technology and expand Akosha’s enterprise solutions offering called OneDirect suite. This suite offers solutions for customer service benchmarking, reputation management, and online feedback CRM.
Akosha founder and CEO Ankur Singla told VCCircle that they also plan to set up a consumer insight research centre based on the data it has collected over the years and help consumers with pre-purchase decisions.
Started in 2010, Akosha claims to receive over 75,000 consumer complaints per month. Till date, it claims to have received close to 800,000 customer service issues across various sectors like telecom, consumer appliances, mobile, insurance, banking and e-commerce among others and it claims to have resolved 61% of these complaints.
Akosha charges consumers a fixed processing fee for complaint resolution. Singla told ET that while consumers are still Akosha’s primary focus, majority of its revenues are now coming from enterprises, which is probably why Akosha is doubling down on its OneDirect suite. What probably attracted these enterprises to Akosha is the platform’s ability to resolve customer grievances methodically and relatively quickly.
Akosha claims that over 100 brands are currently using this platform every week, of which 22 brands have become paid customers. Some of its enterprise clients include Aircel, MakeMyTrip, Snapdeal, Voltas, Groupon and Micromax.
Last September, user reviews portal MouthShut.com had also inked a multi-year partnership with the life insurance company AEGON Religare to launch a new feature called Verified Reviews, which enabled only verified customers of AEGON Religare to write reviews on the platform.