Delhi-based online marketing startup Refiral has raised a $330K angel round from IT services firm, Cogent eServices. Refiral provides SaaS based marketing tools for online businesses, enabling them to run fully – automated, personalized referral viral marketing campaigns.
Bootstrapped so far, Refiral was launched in March 2014. Since inception, the company claims to have run Refiral campaigns for over 250 online businesses from across 10+ countries and split across multiple industries, and have partnered with 20+ e-commerce platforms. In addition, the company is receiving over 100 businesses self-signup on our website every month.
Refiral mixes rewards with referral marketing and spreads it virally to generate higher sales, retain existing customers as well as get new ones at a lower acquisition cost.
With Refiral, you can launch your social referral campaigns virally. Once you’ve setup your campaign, they handle everything – from tracking who has referred who, to integration with your payment provider, to fraud detection and protection to a complete analytics dashboard.
Co-founder Anmol Batra said,
We plan to use the funds to evolve our current product. We would also work on developing new tools and expanding our service offerings, moving towards our long term vision to help businesses increase sales’.
The company is also aiming scale up operations by expanding to international markets, starting with the United Kingdom by the end of this month.
Abhinav Singh, Managing Director at Cogent eServices says,
Refiral’s innovative concept fits the rapidly growing e-commerce market very well. The team is solid –very assionate and young.
Both the companies – Refiral and Cogent – have also entered into a strategic partnership and are together building a customer support-as-a-service tool for the online businesses.
Online marketing has been gaining huge traction in India. With the exponential rate at which India’s internet population is expanding, start-ups and medium businesses are more interested in aligning themselves with digital marketing, rather than going for those traditional billboards or TV ads.