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NowFloats raises funds from Omidyar Network & existing investors

Hyderabad-based NowFloats has raised an undisclosed amount of Series A funding from Omidyar Network and existing investors Mumbai Angels, Blume Ventures and Hyderabad Angels. The company will use the funds to enhance its distribution platform, for customer acquisition and to expand globally. Blume Ventures had previously co-invested in the startup, along with Mumbai Angels and other individual angels in August 2013. NowFloats currently offers a platform for local businesses to get online by creating local content and managing & updating their online presence. For this, the company offers two flagship products Lighthouse and Wildfire. Lighthouse offers merchants updates via its web portal, custom background on websites, unlimited gallery images and email addresses along with up to 500 email subscribers for Rs 20,000 per year. Wildfire on the other hand offers organic traffic optimisation, along with driving inorganic traffic. The platform claims to auto-promote websites on channels like Google and Facebook and costs Rs 60,000 for 6 months. Both plans offer customers location based SEO, an analytics dashboard, Google places integration, a .com domain or link to existing site, Facebook social sharing and customer support over phone and email. Other than this, NowFloats also provides an Android and iOS app ‘NowFloats Boost’, which lets users create a website as a nowfloats.com subdomain for free. The app integrates Facebook and Twitter letting users share content directly through the app. Once the website gains popularity customers can display wares and promos, set business timings, create a ‘make an enquiry’ box for users and…

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