ProfitWheel, a Mumbai, India-based global consumer intelligence SaaS startup, raised Rs 10 crore in pre-Series A funding.
The round was from Ashutosh Garg (co-founder and chief executive at Eightfold AI), Amit Singhal (former head of Google Search), and Nigel Morris (former Dentsu International). Existing investor Netcore Cloud also participated in the round.
The funds will be used to further its conquests in the US and other key Global Markets, making strategic hires in sales and customer success and bolstering its product artillery for new use cases in consumer intelligence.
“We’re on a growth trajectory and the market environment is ripe to think aggressively”, says Gautam Mehra, co-founder & CEO of ProfitWheel. “It is a no-brainer that investing in consumer intelligence forges better understanding between brands and their audiences and propels growth and genuine engagement. Digital marketing is constantly disrupted with ever-changing systemic changes and privacy concerns – creating lesser audience transparency. ProfitWheel was established to empower marketers with more intelligence to help them navigate these changes and have better consumer understanding to steer their businesses. With an ambition to emerge as a multi-billion dollar enterprise, we will continue to deliver best in class products to the market around consumer intelligence and unearth insights that fuel consumer growth and intelligence.”
ProfitWheel is used by Fortune 100 companies to take decisions on media buying, content creation, creative strategy, influencer selection, etc. across 40+ countries.
Company: ProfitWheel Inc.
Raised: Rs 10 crore
Round: pre-Series A
Funding Month: December 2022
Lead Investors: Ashutosh Garg, Amit Singhal, and Nigel Morris
Additional Investors: Netcore Cloud
Company Website: https://www.profitwheel.com/
Software Category: Digital Advertising
About the Company: Founded in 2020 by Vivek Bhargava, Gautam Mehra, and Aman Khanna, Profitwheel specializes in performance marketing and programmatic advertising. Profitwheel is the developer of a marketing technology intended to make digital advertising efficient. The startup helps large enterprises unpack actionable insights on their first-party data. ProfitWheel has developed a solution that works in tandem with this changing landscape while both retaining a brand’s ability to make targeted and accurate analyses from their first part and third-party data sources while ensuring end-user privacy. Its sole focus as an organization is to democratize data, harnessing the power of AI and ML to provide consumer intelligence unpacked from black-box marketing ecosystems. The platform has been used by some of the largest banking and finance players in the world, a Fortune 100 company, several direct-to-consumer brands, established e-commerce giants, and some of the largest players in consumer tech and home appliances.