While it has almost always been difficult for employers to gauge and work upon ‘sentiments’ of their employees, current WFH and hybrid work schedules have made the situation worse. It has become a general norm for employees to feel burnt out these days, something that employers are unable to pre-determine, resulting in higher churn-rates and attrition. inFeedo realised the same and thus came out with its now widely-used ‘Amber’ chatbot. And the company has received fresh capital from marquee investors, to further build on this model.
The company announced today it has raised $12 million in Series A funding led by Jungle Ventures, with participation from Tiger Global and returning investors like Bling Capital. This brings inFeedo’s total raised capital since its founding year — 2016 — to $16Mn. Prominent angel investors such as Anupam Mittal (Shark Tank India) are also a part of the company cap table.
Part of the funding will be used for the company’s second ESOP buyback for all employees. Other investors in the round included Zeta founder Bhavin Turakhia; Gainsight co-founder Sreedhar Peddineni; Freshworks chief human resources officer Suman Gopalan; and Ankur Warikoo.
inFeedo primarily delivers intuitive employee engagement through ‘Amber’, its chatbot that the company often dubs as its client’s ‘Chief Listening Officer’. The chatbot, which is now available in over 100 different languages, remains with an employee throughout their journey with an organisation. Amber is available for employees to talk all the time, but it also ensures at least 3-4 yearly conversations to gauge current employee sentiment. These conversations typically end up being 2-2.5 minutes long and contain 7- questions.
inFeedo’s Amber also remembers previous conversations and is thus contextual in nature. The startup already has some of the biggest names in tech and startup as their clients, including the likes of Paytm, Samsung, Airtel, Ticket.com, Myntra among others.
The new funding will be used to ship new products over the next two years, with the “vision of an all-in-one employee experience platform with predictive people analytics that involve 0 effort HR/IT,” inFeedo founder Tanmaya Jain told TechCrunch.