Contlo Raises $3.5 Million In Seed Funding Round
Contlo, an artificial intelligence-backed customer data and marketing platform, has raised seed funding of $3.5 million (around Rs 28 crore) led by early-stage venture capital firm Kae Capital.
Existing backers Better Capital and Titan Capital, with angel investors including Varun Alagh (Mamaearth), Harshil Mathur and Shashank Kumar (Razorpay), and Giridhar Malpani (Climber Capital), among others, also participated in the funding round.
As per the startup, the raised funds will be used to strengthen its product capabilities, RnD, expand its go-to-market (GTM) operations and for its global marketing agency-led partnership program.
The Bengaluru-based startup also plans to further its growth with increased marketing & sales activities, hiring across all teams and expansion into new international markets.
Contlo | Omnichannel Customer Engagement
Founded by Ishaan Bhola and Mukunda NS, Contlo is a customer relationship & data platform that enables e-commerce stores to boost their sales and drive customer loyalty and retention using omnichannel customer engagement.
Operated by Contlo Technologies Pvt. Ltd, Contlo enables D2C brands to drive repeat revenue using its Email, WhatsApp, SMS, Web Push, & Mobile Push Marketing.
Speaking about the development, Ishaan Bhola, Co-founder of Contlo, said,
“Ecommerce marketing has become highly sophisticated, vanilla generic marketing automation doesn’t work for ecommerce brands anymore. Our product offers instant time to value, unlocks commerce-centric use cases and drives 3x more revenue than generic horizontal tools using an AI-first approach”.
The platform claims to be currently used by over 1000+ modern e-commerce and D2C brands across the globe, such as XYXX, Himalaya Herbals, Marico, Jimmy’s Cocktails, Yoga bar, Symphony, Rare Rabbit, The Man Company, Supertails, and Boult audio to name a few. It claims to have witnessed a massive growth of 50% MoM since its inception.
Commenting on the development, Gaurav Chaturvedi, Partner, Kae Capital, said,
“We believe SaaS is getting rewritten due to three tailwinds of AI, verticalization and PLG. Contlo sits at the intersection of these trends and has built a powerful product.”
Founded in 2012 by Sasha Mirchandani, Kae Capital has invested in 79 startups and claims a portfolio enterprise valuation of $8.52 billion. This year, the firm has invested in several startups, including HealthKart, analytics platform Hatica Technologies, and Bold Finance.