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Online dating site TrulyMadly raises $5.5 Million from Helion Ventures and KAE Capital

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India isn’t the dating country. Forget dating, many extremist groups within the country don’t even allow hugs in public. However, what could possibly be the first real-sign of a radical thinking shift, an online dating site out of the sub-continent, TrulyMadly, has secured a staggering $5.5 Million in its first round, led by Helion Ventures along with KAE Capital.

TrulyMadly, which operates through an Android and iOS mobile app, lets singles discover each other through shared interests and personality profiles. However, what sets TrulyMadly apart from the numerous “anonymous” dating apps out there, is its non-anonymity. Every user profile on TrulyMadly is verified through official documents and identity cards.

And while many of you think that this is a cumbersome, tedious and not-so-wanted process, it has actually started to gain significant traction within the country. The app already has over 200K installs and is surging ahead with an over 100% Month-on-Month growth.

Moreover, TrulyMadly comes as a highly secure dating app, especially for women, and that too at a time when women safety is at its peak in discussion across the globe and companies are lining up measures to ensure the same. Since the app verifies and authenticates all user profiles before allowing them access to matches, women have felt safe in browsing through TrulyMadly. A testimony to that statement is the fact that over 35% of downloaders of the app are women.

The TrulyMadly system also uses a proprietary tool called Trust Score, which is assigned to all users as they sign up on the app or platform. Only members with 30% or higher Trust Score can get a match or initiate contact online. TrulyMadly also uses a method called ‘psychometric profiling’, which suggests highly compatible matches to its users through a set algorithm in place.

Sachin Bhatia, CEO & co-founder at TrulyMadly said,

It’s heartening to have marquee investors like Helion & Kae on board as it reaffirms our faith in the model and approach. They bring a lot of credibility and experience with them, which will be very useful to help us scale and grow rapidly, as we prepare to serve an ever increasing number of users.

Talking about how TrulyMadly may usher in a change in India’s still largely extremist society, Bhatia says,

Women users tend to prefer TrulyMadly over all other apps; making up as much as 35% of our user base. Also, the incredible growth in TrulyMadly’s adoption indicates that online dating is today as acceptable to people as is exchanging mobile messages with friends.

Previously, the app had raised angel round from numerous investors, which included Deep Kalra (Founder & Group CEO, MakeMyTrip), Rajesh Magow (Co-founder & CEO MakeMyTrip India) and Manish Vij (Founder of Tyroo).

The company aims to use its freshly-raised funds to upgrade its app and back-end so as to accommodate an expanding user-base. A team expansion is also on cards.


 

Editor-at-large and co-founder at The Tech Portal. He is a tech enthusiast with interests in new-age technology fields like Ai, Machine Learning, AR/VR, Outer Space and related stuff. Drop him a mail anytime, very reachable.


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