NowFloats has closed closed a Series B funding of USD 10 Million via Iron Pillar and IIFL (Seed Ventures Fund I & Cash Opportunities Fund), along with Blume Ventures & Omidyar Network. The platform helps businesses get online and find more customers using proprietary auto-SEO technology plans to invest this capital primarily on Customer Support & Engagement and on increasing the value proposition of the technology provided to SMEs.
NowFloats will invest the capital to further improve the new technology stack that drives customer support, it would now be a hybrid of automated and human interaction support system. Also NowFloats plans to enable the larger enterprises to leverage automated SEO on top of their existing websites. With respect to SMEs, NowFloats aims to now also go beyond discovery by simplifying online and offline transactions. The company plans to continue to invest in Digital Desh Drive which has been in instrumental in understanding the market, especially the Tier 2 and Tier 3 cities in India.
“Our product is geared towards making it as simple as possible for business owners to interact and add updates to their online identity. This is what primarily fuels the automated SEO engine of NowFloats. We want to re-define the market for business websites, where the business owners only have to worry about the content on the website, and the technology takes care of other aspects like design, performance, discovery (SEO), marketing (SEM), enabling transactions (payment gateway) and customer/lead management, etc. We are investing in creating a product that would be one day used by all the SMEs across the globe, and built out of India,” Neeraj Sabharwal, Co-founder, NowFloats said.
The USP of NowFloats lies in the fact that it’s a frictionless mobile technology that connects online consumers to local offline businesses. With innovation deeply embedded in its very DNA, every 3 months NowFloats travels across India to uncover new tech behaviors and smartphone adoption, via its Digital Desh initiative.
“We love working closely with this high energy team, and are eager to help them specifically in structuring and focusing sales efforts, growth initiatives in the next few years, and improving pre-identified key business metrics,” added Anand Prasanna, Managing Partner, Iron Pillar.
