SaaS-based HR analyticsstartupinFeedo has raised $700,000 in its Series A funding round. The round was led by Y Combinator, the popular startup incubator. Several entrepreneurs and industry executives took part in the funding round including Former Facebook Director AnandChandrashekharan, Cisco’s VinodMuthukrishnan, Kwench founder Sunder Nookla, Inventus Law founder Anil Advani, Lenskart co-founder PeyushBansal, and Innov8 founder Dr.Ritesh Malik.
Tanmay Jain, Founder and CEO of the company said: “Our main aim to fundraise during the pandemic was to double down in South-East Asia and build a leadership team that helps customers remotely connect with their employees better and comes out of Covid-19 stronger than before.”
The fresh funding will help the startupscale its recruitment. The company will now look to fill some of the executive roles in the company including the position of COO, CMO, and CTO. The company will also look to improve its customer portfolio to create revenue in excess of $10 million.
In its seed round, the startup had previously raised $200,000 from a few angel investors that included People Group founder Anupam Mittal and Redcliffe Capital MD Dheeraj Jain.