Marketing platform Betaout has raised $1.5 million in a pre-Series A round of funding from Beenext, Stanford Angels, Letsventure, Chennai Angels, Hyderabad Angels, and Mumbai Angels. Match Group CEO, Sam Yagan, also participated in this round.
Betaout will use the funds for hiring in technology and marketing, as well as to focus on developing its mobile offerings and add new features. The company also plans to expand to other Asian markets like Indonesia and Malaysia by the end of this year.
Launched in April 2015, Betaout raised $500,000 in funding three months later from individual investors, including Yagan, from the US and India. The platform lets advertisers and marketers execute email marketing campaigns like newsletters, on-site marketing campaigns to integrate pop ups or sticky bars, cart recovery to target audiences that add items to carts but don’t buy them, live chat with customers, view consumer profiles and view customer segments.
It also provides various customer insights like the number of loyal customers, customers about to sleep, lost customers, new customers, etc. As of now, Betaout provides a 14 day trial for the platform, which can be integrated with shopify, Magento, Woocommerce and other ecommerce platforms. It currently claims to serve over 150 e commerce companies in Southeast Asia, although it does not mention their names.
Other adtech/marketing startup developments:
– In January, Blueshift Labs raised $8 million in a round of funding led by Storm Ventures, with participation from existing investor Nexus Venture Partners.
– In November 2015, online advertising solutions company Vizury laid off around 50 people in 3 cities in its ad retargeting business, and pivoted its business model to a data management platform (DMP) business.
– In August 2015, Mumbai-based IntelligenceNODE, a big data analytics startup, raised funding worth $4 million from New Enterprise Associates (NEA) and Orios Venture Partners.
– In June 2015, Data sciences and analytics firm Saama Technologies raised $35 million in a round of funding from California-based Carrick Capital Partners.
– The same month, Tracxn, a research platform for private market investors, raised $10 million in a round of funding, to launch an incubator called TracxnLabs. The company recently raised funds from Ratan Tata.