Betterhalf.ai Raises $3 Mn In Pre-Series A Round The company plans to utilize the funds to boost user engagement on the app, adding monetization features, and increasing product discovery across organic channels
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Matrimony app Betterhalf.ai has raised $3 million as part of its pre-Series A funding. The startup was a participant in the Y Combinator W21 batch and the funding saw the participation of venture capital firms including S2 Capital and Quiet Capital and marquee angel investors like Kunal Shah and Samvit Ramadurgam.
As part of the business expansion, tech-focused Betterhalf.ai plans to utilize the fund into boosting app engagement and building monetization features. Also, a significant part of the funds will be allocated for Betterhalf.ai product discovery across organic channels.
"Matchmaking is very broken and users have to waste a lot of time and effort on matrimony apps. I appreciate the strength and relentless focus of the Betterhalf team in using technology to create an improved user experience in the Indian matrimony market. Betterhalf's strategy to connect the brides and groom without parents' intervention is what makes it super powerful and differentiated," said Saurabh Garg, founder, Nobroker and investor/business advisor, Betterhalf.ai
Betterhalf.ai was founded in 2016 by Rahul Namdev – an MIT graduate AI expert and Pawan Gupta – a serial entrepreneur.
"The closing of this round post Y Combinator Demo Day is a marker of the investors' confidence on readiness of 100M urban Indians for a new age matrimony app and allows us to take the company from $1m run rate to $5m run rate for our next Series A round," commented Pawan Gupta, co-founder, Betterhalf.ai.
Currently, the app facilitates over a million matches and a thousand marriages across a user base of 700,000 urban millennials. With extensive business plans, the app is witnessing $75,000 in monthly revenue and is growing at 30 per cent every month.
"Betterhalf.ai combines a modern user interface, personalized recommendations and puts the future bride and groom in the driver's seat. We think that the AI-based matrimony startup has taken the best of western dating apps, customized those learnings to the Indian matrimony market, and created a one-of-a-kind product that is going to reinvent the matrimony experience for young Indian single," added David Greenbaum, partner, Quiet Capital.
Furthermore, the company is planning to witness a steep surge in its current user base and expects to touch 1 million users by the end of 2021.
Prior to this, Betterhalf.ai raised a $2.3 million Seed round from Y Combinator, Tribe Capital, Nurture Ventures, and Saurabh Garg, Nobroker founder and Shailesh Rao, former managing director, Google India, and former partner, TPG Capital.
