Chiratae Ventures, a Bengaluru-headquartered venture capital firm that focuses 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 raised $4 million in a previous Series A funding round led by Chiratae and including participation from other existing investors Venture Highway, FortyTwo VC and Axilor Ventures.
According to Emitrr, proceeds from the pre-series funding will be used to expand go-to-market efforts, expand the range of automation and improve the product’s capabilities to address more critical local business challenges.
“With companies like Amazon and Uber offering world-class customer experiences, the expectations of end users today have skyrocketed – they demand similar digital journeys from all companies. Our product provides that experience for our end user when they interact with local businesses,” said Anmol Oberoi, Founder, Emitrr.
The SaaS market has become one of the fastest growing segments of the IT industry in recent times. This success is due in part to the pandemic, which created the need for remote and hybrid modes of operation and contributed to the growth of the cloud for several months. As more and more companies adopt the SaaS model, they are reaping benefits such as increased profit per hour, reduced time to market (TTM), and improved customer reach.
The unprecedented speed of digital transformation has fueled the strong growth of the SaaS industry, which is expected to be valued at $720.44 billion by 2028, 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 developed and operated in global markets. It currently claims that more than 150 local businesses in the US use its platform and that its customers are also present in Canada and Australia.
The platform uses SMS and text messages via WhatsApp as a means of communication as it helps businesses digitize their business operations by automating tasks and creating automation models that work over SMS. These businesses range from dentists to local medical centers and use Emitrr’s services, which include automating “tasks performed by receptionists who work in a dental office and a front desk manager who is in a restaurant.”
“We’re essentially text messaging software for business and automation software for local businesses in the US,” Oberoi said. The platform claims that it currently processes the data of more than 1 million customers.
