AI Driven HR Analytics Startup inFeedo Raises $200k in Angel Round

HR analytics platform inFeedo has raised $200,000 in angel round from a group of investors led by Dheeraj Jain, Managing Partner, Redcliffe Capital and Anupam Mittal, CEO of Shaadi.com. The company also got funding from Ameera Shah, CEO of Metropolis; Vivek Bhargava, Group CEO of DAN Performance; Rahul Singh, CEO of Beer Cafe and Ambarish Gupta, CEO of Knowlarity.

Focused on employee engagement, inFeedo's new chatbot Amber is being used in companies like MakeMyTrip, PayU, Knowlarity, RedBus, Caratlane and Nearbuy. Founded in 2013 by Tanmaya Jain, inFeedo now helps HR automate continuous collection of feedback so they can focus on the action points. The chatbot called Amber talks to employees regularly and based on their chats, auto generates culture reports for HR leaders to proactively meet those who’re unhappy, facing troubles or about to leave.

“The investment further validates the disruption that inFeedo’s differentiated approach is creating in employee engagement for corporates at all levels. We are currently live with 16+ companies and are on track to touch more than 10,000 paid users by the end of the year 2016. With a phenomenal response from over a 100+ HR Heads across the country, we’ve reached a stage where we’re almost unable to deal with the incoming interest. We find ourselves as uniquely positioned in terms of data driven technology & investors who are backing our company to help us deal with scale,” said Tanmaya Jain, Founder at inFeedo.

Now that Amber’s natural language processing capabilities are in place, the company will use the funds to enter growth stage and scale across India with plans to hit the international market in 2017.

inFeedo recently participated in a reality show called the The Vault Show (India’s Shark Tank) where chosen entrepreneurs get 5 minutes to pitch to investors on the show. inFeedo got selected to present its case from about 5000+ applications and they also received on the spot funding of Rs. 50 lakh from 2 investors on the show and another Rs. 35 lakh from the other 2 investors post the show.

HR Analytics Startup ‘inFeedo’ to Raise $150K in Angel Round of Funding

Three years ago, Tanmaya Jain and his college roommate Varun Puri embarked upon a journey to make the average employee felt valued, with their employee engagement platform, inFeedo. After bootstrapping over a year on client revenue, today they raised an angel round led by managing partner at Redcliffe Capital, a UK-based hedge fund. This $150,000 round was led by Dheeraj and preceded by Palash Jain, Ex-Head of Google India Core Operations. inFeedo is in conversations with relevant angels and HNIs having a strong background in the HR-Tech space to complete the remaining round in the month of September.

“inFeedo is the next disruption, having aligned itself perfectly with the global shift towards people management. We have heard stellar feedback from their clients on how they have arrested attrition and helped boost employee productivity. It's efficient SaaS model will enable them to manage culture in organizations across the globe!" said Dheeraj, Managing Partner, Redcliffe Capital.

The Next Wave of Chatbots: inFeedo’s new AI chatbot “Amber” has been an instant hit with HR heads at geographically distributed companies like MakeMyTrip, Lava Mobile, Knowlarity, RedBus and Nearbuy. Built purely on client feedback, this bot can now automatically talk to employees at specific intervals in their lifecycle and based on their chats, auto-generate Culture Reports for HR leaders to proactively meet those who’re unhappy, facing troubles or about to leave.

“If HR and Data Science were to marry, inFeedo would be the baby. It’s been a real emotional roller coaster ride, watching our baby grow up into a platform that can engage 5500+ employees, generate 1000+ ideas, host 10+ anonymous townhalls and predict attrition in ways that are humanly impossible”, said Tanmaya, Founder, inFeedo.

An Unusual Team: 21 year old, Tanmaya has been growing inFeedo’s paid user base at the rate of 53% QoQ and is cashflow positive, with an unusual team that includes a college dropout from St. Xavier’s, an in-house data scientist and an aspiring psychologist who spent 15 months in Antarctica.

“They are a very creative set of youngsters who are youngsters in terms of age but when it comes to their conversation, discussion and point of view, they can beat any senior guy 30/30+ with their logic”, said Yuvaraj Srivastava, CHRO, MakeMyTrip.

With less than 10 team members, this team surfed the recent huge waves of “startups surge/downturn” and emerged profitable by keeping cost of operations at bare minimum. By end of 2016, inFeedo aims to touch more than 10,000 paid users and is looking to partner with more B2B HR companies as it scales.

A Growing Market: With the rising adoption of technology by HR, SMB SaaS is expected to grow to $76 billion in 2020 and India is expected to capture eight percent of this market.

inFeedo is raising this round to meet this growing demand, scale across international waters and hire talent that can build upon Amber, their chatbot’s machine learning, natural language processing and predictive analytics capabilities.

HR Analytics Startup ‘inFeedo’ to Raise $150K in Angel Round of Funding

Three years ago, Tanmaya Jain and his college roommate Varun Puri embarked upon a journey to make the average employee felt valued, with their employee engagement platform, inFeedo. After bootstrapping over a year on client revenue, today they raised an angel round led by managing partner at Redcliffe Capital, a UK-based hedge fund. This $150,000 round was led by Dheeraj and preceded by Palash Jain, Ex-Head of Google India Core Operations. inFeedo is in conversations with relevant angels and HNIs having a strong background in the HR-Tech space to complete the remaining round in the month of September.

“inFeedo is the next disruption, having aligned itself perfectly with the global shift towards people management. We have heard stellar feedback from their clients on how they have arrested attrition and helped boost employee productivity. It's efficient SaaS model will enable them to manage culture in organizations across the globe!" said Dheeraj, Managing Partner, Redcliffe Capital.

The Next Wave of Chatbots: inFeedo’s new AI chatbot “Amber” has been an instant hit with HR heads at geographically distributed companies like MakeMyTrip, Lava Mobile, Knowlarity, RedBus and Nearbuy. Built purely on client feedback, this bot can now automatically talk to employees at specific intervals in their lifecycle and based on their chats, auto-generate Culture Reports for HR leaders to proactively meet those who’re unhappy, facing troubles or about to leave.

“If HR and Data Science were to marry, inFeedo would be the baby. It’s been a real emotional roller coaster ride, watching our baby grow up into a platform that can engage 5500+ employees, generate 1000+ ideas, host 10+ anonymous townhalls and predict attrition in ways that are humanly impossible”, said Tanmaya, Founder, inFeedo.

An Unusual Team: 21 year old, Tanmaya has been growing inFeedo’s paid user base at the rate of 53% QoQ and is cashflow positive, with an unusual team that includes a college dropout from St. Xavier’s, an in-house data scientist and an aspiring psychologist who spent 15 months in Antarctica.

“They are a very creative set of youngsters who are youngsters in terms of age but when it comes to their conversation, discussion and point of view, they can beat any senior guy 30/30+ with their logic”, said Yuvaraj Srivastava, CHRO, MakeMyTrip.

With less than 10 team members, this team surfed the recent huge waves of “startups surge/downturn” and emerged profitable by keeping cost of operations at bare minimum. By end of 2016, inFeedo aims to touch more than 10,000 paid users and is looking to partner with more B2B HR companies as it scales.

A Growing Market: With the rising adoption of technology by HR, SMB SaaS is expected to grow to $76 billion in 2020 and India is expected to capture eight percent of this market.

inFeedo is raising this round to meet this growing demand, scale across international waters and hire talent that can build upon Amber, their chatbot’s machine learning, natural language processing and predictive analytics capabilities.