PickMyWork, a startup that assists digital companies to acquire end customers has announced raising USD 1 million in seed round.
The round led by SOSV’s Orbit Startups witnessed participation from an array of esteemed investors including Soonicorn Ventures, Upaya Social Ventures, Blume Founders Fund, Venture Catalyst, Mumbai Angels, 888 vc, Imperier Holding, Chandigarh Angels, and WeFounderCircle. The round also saw investment from prominent CXOs in the startup ecosystem Akash Gupta, CEO, Zypp Electric, Gaurav Chopra, CEO, IndiaLends and Prajakt Deolasee, CTO, Turtlemint.
“With new internet businesses launching every day there is a dire need for a strong distribution pillar to catalyse their growth. It becomes an impossible task for these businesses to penetrate the tier 2 and tier 3 markets where there is still a grave need for assistance as these geographies gradually adapt to the digital world,” said Mr. Vidyarthi, CEO PickMyWork. “PickMyWork is bridging this gap for various businesses, while simultaneously creating income sources. We have seen the model succeed, which is also reflected in our month-on-month growth rate of 30 percent,” he added.
PickMyWork is India’s largest digital distribution network, allowing digital companies to acquire end customers based on a pay-per-sale model, at a very low CAC. PickMyWork currently works with 3,00,000 gig workers as part of its network, offering them supplemental earning opportunities to increase their income. The company reports 3X earnings per hour of effort as compared to other delivery gigs, with a model that is 1/10th cheaper compared to online marketing or having in-house sales teams for internet companies.
PickMyWork has worked with 25 clients to date, assisting them in acquiring 5 lakh end customers. Its clients include Meesho, Freecharge, IndusInd Bank, Flipkart, Fi Money, Amazon Pay, and Airtel Payments Bank, AU small finance bank to name a few.
“PickMyWork is solving the biggest challenge in terms of customer acquisition for international corporations and high-growth startups alike, all while helping India’s gig workers upskill and create the future they want,” said William Bao Bean, Managing Director of Orbit Startups. “We’re proud to be a part of their mission as the team goes on to empower India’s entrepreneurs and shape the course of technological advancement in Tier 2+ cities.”
PickMyWork plans to use the raised funds in growing its network of agents in various geographies pan India. A part of the raised investment will also be utilised in strengthening the technology backbone which will further increase the efficiency of the distribution.
“On one hand Pickmywork is helping digital businesses go to market quickly and on the other hand, it is providing opportunities to gig workers. We do believe businesses will have to adopt a combination of GTM strategies to penetrate into smaller towns and PickMyWork is well positioned to provide them with the right platform to do so,” Sarita Raichura, Vice President (Blume Ventures).
