ProfitWheel, a software as a service startup, raised $3 million (Rs 22.2 crore) in seed funding from Netcore Cloud and angel investors.
The round also saw participation from Vallabh Bhansali of Enam Group; KRS Jamwal of Tata Group; Dinesh Agarwal from Indiamart; Prashant Gulati - investor and trustee, Tie Global Board; Rizwan Koita and Jagdish Mathur of CitiusTech; Jimmy Mahtani from Baring Private Equity Asia; and Harish Bhal and Manish Vij of the Smile Group; among others.
With the new investment, the company is poised to fill the need gap created by the latest changes in the adtech ecosystem, the company stated.
Funding Month: October 2021
Lead Investors: Netcore Cloud
Additional Investors: Vallabh Bhansali, KRS Jamwal, Dinesh Agarwal, Prashant Gulati, Rizwan Koita, Jagdish Mathur, Jimmy Mahtani, Harish Bhal, and Manish Vij
Company Website: https://profitwheel.com/
Software Category: Customer data-led marketing intelligence platform
About the Company: Founded in 2020, ProfitWheel focuses on creating a customer data-led marketing intelligence platform for the new direct-to-consumer world. ProfitWheel has been conceptualized as a global SaaS product company with the dream to become a multi-billion dollar enterprise. ProfitWheel believes that only a fraction of customers drive the most profitability for a brand - and we want to help increase their high-value customer base. ProfitWheel goal is to make digital advertising more efficient by sharing intelligence from existing customers' (1st party / CRM) data with media buying platforms and vice versa. Profitwheel's technology can also be utilized to help drive more valuable sales, re-target intelligently, maximize RoAS, and reduction in acquisition costs while improving the quality of conversions.