inFeedo secures $12 million from Jungle Ventures, Tiger Global
Employee engagement platform inFeedo said on Tuesday that it has raised $12 million in a funding round led by Jungle Ventures, with participation from Tiger Global and existing investors like Bling Capital.
Other investors include Zeta founder Bhavin Turakhia, Sreedhar Peddineni, co-founder Gainsight, entrepreneur and angel investor Ankur Warikoo and Suman Gopalan, CHRO, Freshworks. This brings the total capital raised by the company to $16 million
The company said that it has tripled its valuation in less than 18 months and has scheduled its second ESOP buyback for all employees.
“The priorities for the next two years are four-pronged. Firstly, we aim to triple our product line. We also plan to quadruple revenue and double our team,” Tanmaya Jain, cofounder, inFeedo, told. The company is currently hiring for 140 remote roles across functions in Southeast Asia, India and the US.
Set up in 2016 by Jain and Varun Puri, the US-headquartered company has an AI bot which helps with people analytics, helping predict attrition, burnout and disengagement in top talent. The company currently works with over 175 enterprises across 60 countries, including Tata Group, Godrej, Samsung and Lenovo.
“We are excited to partner with Tanmaya and the inFeedo team. We believe they will be a leader in the employee listening market,” said John Curtius, Partner at Tiger Global.
The company would also work at accelerating its growth in India and South East Asia while expanding its presence in North America, Jain said. “The relationship between employees and companies is changing radically, forcing leaders to rethink their approach to their most precious resource: talent. The kind of encouraging on-ground feedback we received from all stakeholders, be it the customers, the competitors or even the ex-employees makes us extremely excited to partner with inFeedo, as they set out to redefine employee engagement for global enterprises,” said Arpit Beri, Principal at Jungle Ventures.
Earlier in 2020, inFeedo had raised funds from Y Combinator, Girish Mathrubootham, CEO Freshworks, Peyush Bansal, CEO Lenskart and Ritesh Malik, founder, innov8.