Even with tiny organisations, gauging employee attitude can be difficult. When managers least anticipate it, this can lead to burnout and attrition. inFeedo hopes to fix this problem by serving as a conduit between employees and their bosses, conducting surveys via a chatbot called Amber, which inFeedo refers to as a “Chief Listening Officer.” Today, the firm revealed that it has raised $12 million in Series A fundraising led by Jungle Ventures, with participation from Tiger Global and returning investors such as Bling Capital.
This brings the total amount raised by inFeedo to $16 million since the company’s founding in 2016. A portion of the money will go toward the company’s second ESOP buyback, which will benefit all employees.
The other investors in the round were Zeta founder Bhavin Turakhia, Gainsight co-founder Sreedhar Peddineni, Freshworks chief human resources officer Suman Gopalan, and Ankur Warikoo. The inFeedo chatbot Amber is available in over 100 languages and has a diverse set of customers, including Samsung, Xiaomi, Lenovo, TATA, Godrej, Bharti, Unacademy, Paytm, OYO, Lenovo, JD.ID., Tiket.com, Mediacom, Sunlife, BukuWarung, and Aboitiz. Amber is used by 30,000 employees in Singapore, Malaysia, Indonesia, and the Philippines. With its new capital, inFeedo wants to accelerate its go-to-market plans in North America, where it currently has 175 enterprise clients in 60 countries, mostly in Southeast Asia, India, and the United States.
Tanmaya Jain, who co-founded inFeedo with Varun Puri, told TechCrunch that the idea for the platform was conceived while they were both still in school. “The general concept of a university was a tremendous culture shock for both Varun and myself because we both came from liberal institutions.” New ideas were frequently overlooked, shot down, or forgotten because people were urged to follow a pattern rather than think.Employees typically felt “neglected, under-appreciated, and scared to open up and share honest feedback with management, which contributed to disengagement and attrition,” according to the researchers.
After conducting a study, the two discovered that firms are concerned about employee satisfaction but struggle to keep track of it. “When you have a 1:300 HR: employee ratio, 40% of their time is spent manually recording, gathering, and analysing feedback, and it becomes humanly impossible to offer employees the voice they require,” Jain explained. He added that InFeedo was intended to standardise surveys across disciplines and cultures, while many firms utilise annual or pulse surveys.
Amber also establishes rapport with her coworkers by recalling details from past conversations. Employees can interact with the chatbot as often as they want, although Jain said they usually have three to four conversations with Amber per year, each of which is approximately eight questions long and takes no more than five minutes.
The fresh funds will be used to launch new products over the next two years, with the goal of creating an “all-in-one employee experience platform with predictive people analytics that requires zero effort from HR/IT,” according to Jain. inFeedo also intends to triple its revenue and double its staff, and is now hiring for 140 remote positions in Southeast Asia, India, and the United States, with a focus on marketing, product, engineering, and sales.
Benjamin Turner is a journalism graduate with keen interest in covering Technology news – specifically wall street business. He has as a keen eye for technologies and has predicted quite a few successful startups over the last couple of years. Benjamin goal with this website is to report accurately on all kinds of stock news, and have a great deal of passion for Technology news reporting. Benjamin is diligent and proactive when it comes to Technology news reporting.
