SaaS-based Startup Houseware Raises $2.1 Mn From Tanglin Venture
SaaS startup Houseware has raised $2.1 million in its seed funding round led by Tanglin Venture Partners, a Singapore-based venture capital firm.
The funding round also saw participation from additional investors, including GTMfund and Better Capital, as well as unnamed angel investors from SaaS companies such as Snowflake, Stripe, Carta, Zendesk, and Superhuman.
As per the startup, the raised funds will be used to grow its customer base, expand its team, and expand its capabilities through agreements with partners such as Snowflake.
Houseware | Modern Revenue Engine For B2B SaaS Companies
Founded by Divyansh Saini and Shubhankar Srivastava in late 2021, Houseware is a modern revenue engine for B2B SaaS teams to work with metrics, create intelligent workflows, and drive predictable revenue outcomes. The startup enables SaaS businesses to create a new-age CRM for the modern world, built on the cloud data warehouse.
Speaking about the development, Divyansh Saini, Co-founder & CEO of Houseware, said,
“Data and metrics have come into sharp focus over the past 6 months across SaaS businesses with board meetings now seeking answers to the cost of customer acquisition, which lead channels are working the best, or how product usage links to churn. Investors are focused on solid unit economics and the path to profitability so that a lot will depend on hard-core, disciplined, top-decile business execution. Houseware plans to address these questions for the ecosystem to shape the next decade of SaaS, fuelled by sustainable growth and profitability concepts.”
The startup combines the data stack like Snowflake with the agility of tools like Notion to enable teams to move to creators of data-first use cases.
Houseware connects to more than 150 data sources and abstracts schemas, columns, and rows into higher-level metrics, empowering the creation of visualizations, rules-based actionable signals, and more without coding.
Commenting on the development, Sankalp Gupta, Partner at Tanglin Venture Partners who led the round, said,
“Houseware is building at the cusp of two really broad markets – the modern data stack and system of records like the CRM inside SaaS companies. Divyansh and Shubhankar are exceptional founders with deep product thinking. At Tanglin, we’ve been fortunate to have partnered with them early in their journey and look forward to supporting them as they create a seismic shift in this low NPS, deep TAM market.”
The SaaS segment in India has seen significant investment activity despite the funding winter. Last month, SaaS startup TreZix, which helps digitize export and import processes, raised $1.2 Mn in seed funding from Soha Ventures and angel investors. The same month, another software-as-a-service (SaaS) firm Crest raised $800,000 (Rs 6.6 crore) in pre-seed funding co-led by Indian Angel Network and Inflection Point Ventures.
A few SaaS firms that raised funding last month include:
- GetWork raised pre-Series A funding of $846,340, co-led by Samarthya Investment Advisors and Artha Venture Fund.
- Hatica raised seed funding of $3.7 million (Rs 30.56 crore) led by Sequoia Capital India’s accelerator programme Surge.
- ChronicleHQ Inc, which operates the software-as-a-service (SaaS) presentation platform Chronicle, raised seed funding of $7.5 million (around Rs 62.09 crore).
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