Chikoop, an ad-tech platform which enables advertisers to place ads on free voice calls, has announced that it has raised an undisclosed amount in its seed funding round from two Indore-based industrialists.
While the company declined to reveal the amount raised, it has said that the amount of funding raised in this round will be used by the company to expand its team, enhancing the product and improving user acquisition. Internal sources however reveal, that the amount could run in millions.
The company was founded last year by Neeraj Sharda, alumnus of IIT Bombay and IIM Calcutta, and Sudhanshu Goyal, an IIM Calcutta alumni. The company is currently being mentored by Brand Capital, the ad-for-equity arm of Bennett, Coleman &Co. Ltd (BCCL).
Talking about this round, Sharda says,
As a mobile marketing solution, Chikoop enables brands to market to their target audience by placing ads during free calls. Also, unlike offline marketing, brands can track leads, re-target interested audience, convert leads into sales and measure real-time analytics on clicks.
The platform is offering unlimited calling through free internet and provides audio marketing solutions to brands. The ads are played to the caller at the beginning of the free call. It claims to have nearly 15,000 users for its free calling service and has on-boarded more than 10 brands, including grocery, food-tech and payment solutions companies, for its audio marketing solutions.
Chikoop’s solution enables brands to place audio promotions during Chikoop Free Calls without internet & engage with interested viewers through smart re-targeting via audio,video, SMS, Email and Social Media promotions.
The brand first creates a campaign online, chooses what audience group to target and then allocates budget online. They can also analyze all the performance metrics, re-target interested audience and much more.