Chiratae Ventures, the Bengaluru-headquartered VC firm that focusses on growth-stage startups in the Indian ecosystem, has made its latest investment in the form of Emitrr. The SaaS (Software-as-a-Service) platform successfully scooped up $4 million in a pre-Series A funding round, which was led by Chiratae and included participation from other existing investors Venture Highway, FortyTwo VC, and Axilor Ventures.
According to Emitrr, the proceeds from the pre-series funding will be deployed towards enhancing its go-to-market efforts, expanding its range of automation, and improving product capabilities in order to solve deeper problems for local businesses.
“With companies like Amazon and Uber offering a world-class customer experience, today the end user’s expectations have skyrocketed – they demand similar digital journeys from all businesses. Our product is enabling that experience for our end user when they interact with a local business,” said Anmol Oberoi, founder of Emitrr.
The SaaS market has gained rapid traction as it became one of the fastest-growing segments in the IT industry in recent times. This success is partly due to the pandemic, which necessitated remote and hybrid modes of working and contributed to cloud growth over the months. As more and more companies adopted the SaaS model, they reaped the benefits such as the more revenue per hour, reduced time to market (TTM) and improved customer reach.
The unprecedented rate of digital transformation has contributed to the strong growth of the SaaS industry, which is slated to be valued at $720.44 billion by 2028 and grow at a CAGR of 25.89% during the period.
Emitrr is still a young player in the SaaS market – it was founded by Oberoi and Pulkit Gambhir in December 2020. Since then, it has evolved and operated in the global markets. It currently claims that over 150 local businesses in the US use its platform and that its clients are present across Canada and Australia as well.
The platform leverages SMS and text messages over WhatsApp as means of communication as it helps businesses to digitize their business operations by automating tasks and building automation models that work over SMS. These businesses range from dentists to local healthcare centres and avail Emitrr’s services, which includes the automation of “the tasks performed by receptionists that sit in the dental office and the front desk executive that sits in the restaurant.”
“We essentially are a business text messaging software and an automation software for local businesses in the U.S.,” Oberoi said. The platform claims that it handles the data of over 1 million customers at present.