30. August.2021 – Factors.AI a US and Bengaluru-based B2B SaaS startup, announced that it raised USD 2 Million in a Seed funding round. This round was co-led by Emergent Ventures and Elevation Partners.
The participants of this round were angel investors – Abhay Singhal, Mohit Saxena, Piyush Shah, Naveen Tiwari, Amit Gupta; Founder of InMobi, Amit Gupta; Krish Subramanian and Rajaraman Santhanam, the co-founders of Chargebee; Girish Mathrubootham, founder, Freshworks and the Founder of LivSpace.
Factors.AI will utilize this capital raised to hire more workforce and establish its leadership in the category of this product.
About Factors.AI –
Factors.ai was founded by Praveen Das, Aravind Murthy and Srikrishna Swaminathan in March 2020. The startup mines data for insight through its proprietary AI engine, which results in campaign decisions and increased ROI for marketing teams.
Factor.AI aids marketing teams to efficiently run their marketing activities understand how these marketing activities impact revenue and demand pipeline automatically and have a real-time sales and marketing visibility funnel to plan better.
Aravind is a former Google engineer and previously worked at Freshworks and Srikrishna and Praveen was part of the leadership team at InMobi. The experience they had in previous companies- InMobi and Freshworks showed them the main problem of showing revenue impact of marketing activities, and how Business-to-Business marketing leads to growth in marketing and buyer behaviour are going through a major shift. To tackle these problems, they started up Factors.AI.
Factors.AI manages the marketing operations and analytics community through SMAC, an invite-only Slack group having more than 300 marketing practitioners and leaders from companies like Chargebee, Freshworks, Hey Digital, etc. The members of the startup get access to resources and a forum to engage, connect and expand through peer learning.
“Working with and having deep conversations with 70+ B2B marketers helped us understand the key problem areas, validating the pain points and challenges in using generic marketing analytics and BI tools. The feedback has helped us build the product roadmap and double down accordingly. Factors.AI has 30+ professionals working remotely and their vision is to create best in class, AI-powered, verticalized analytics products focused on B2B marketing,” said the founders.
“The launch comes after a successful early access programme with Chargebee, Plivo, DesignCafe, LivSpace, and YourStory, among other businesses, which switched to Factors.AI for their marketing analytics and attribution use cases,” they added.
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