Talent Retention Platform HuddleUp Raises $550,000 In Seed Funding
HuddleUp, an AI-backed talent retention platform, has raised $550,000 in seed funding led by alternate asset management fund, Anicut Capital.
The funding round saw participation from Blume Founders’ Fund First Cheque, Huddle and early-stage venture fund Upsparks. Several marquee founders and angel investors like Ritesh Malik (Founder of Innov8), Gireesh S (Founder and CEO of Freshworks), Rajesh Sawhney (Founder and CEO of GSF Accelerator), and Mandeep Manocha (Co-Founder and CEO of Cashify), also participated in the funding round.
As per the startup, the raised funds will be to build a larger team and for expansion in India and global markets.
HuddleUp | AI-based Team Culture Platform
Founded by Kshitij Mohan and Varun Varma in 2021, HuddleUp is an AI-based team culture platform focused on enabling managers to build stronger, happier teams.
The startup helps organisations retain top talent and increase productivity through continuous check-ins, suggested 1-on-1s, intelligent real-time experience analytics, manager learnings, gamified kudos, and more.
Speaking about the development, Kshitij Mohan, co-founder and CEO, HuddleUp, said,
“With the funding, we are looking at full-funnel growth, strengthening our core and expanding our footprint. The last few months have witnessed tremendous growth, and we aim to continue the success trajectory.”
Its list of clients includes MPL, Instamojo, ZestMoney, and StepSetGo, among other prominent enterprises.
Alternative asset management firm Anicut Capital is currently managing an equity-based angel fund and two debt funds with an AUM (assets under management) of Rs 1,400 crore.
Commenting on the development, Ashvin Chadha, Founding partner at Anicut Capital, said,
“With the onset of hybrid and remote working ecosystems, organisations have realised the need to focus on the experiences of their employees to retain their top talent. Hence, this market is expected to grow exponentially, with HuddleUp aiming to impact millions of employees at work in the coming years.”
The firm has invested in Sugar Cosmetics, Neeman’s, Bira, Sharechat, Mcaffeine, Earth Rhythm, Vyapar, Agnikul and Grip Finance, and many more startups.
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