PickMyWork Raises $1 Million In Seed Funding
The company plans to use the fund in growing its network of agents in various geographies pan India
PickMyWork, a startup that assists digital companies to acquire end customers, has raised $1 million in Seed round, led by SOSV's Orbit Startups. The round also witnessed participation from an array of esteemed investors including Soonicorn Ventures, Upaya Social Ventures, Blume Founders Fund, Venture Catalyst, Mumbai Angels, 888 Network, Imperier Holdings and WeFounderCircle. The round also saw investment from prominent CXOs in the startup ecosystem Akash Gupta, CEO - Zypp Electric, Gaurav Chopra, CEO - IndiaLends and Prajakt Deolasee, CTO - Turtlemint. The company plans to use the fund in growing its network of agents in various geographies pan India. A part of the raised investment will also be utilised in strengthening the technology backbone which will further increase the efficiency of the distribution.
"With new internet businesses launching every day there is a dire need for a strong distribution pillar to catalyse their growth. It becomes an impossible task for these businesses to penetrate the tier 2 and tier 3 markets where there is still a grave need for assistance as these geographies gradually adapt to the digital world. PickMyWork is bridging this gap for various businesses, while simultaneously creating income sources. We have seen the model succeed, which is also reflecting in our month-on-month growth rate of 30 per cent. We are glad that our investors are here to guide us as we move towards our ambitious targets," said Vidyarthi, CEO, PickMyWork.
PickMyWork currently works with 3,00,000 gig workers as part of its network, offering them supplemental earning opportunities to increase their income. The company reports three times earnings per hour of effort as compared to other delivery gigs, with a model that is 1/10th cheaper compared to online marketing or having in-house sales teams for internet companies, claimed by the company in a statement.
"PickMyWork is solving the biggest challenge in terms of customer acquisition for international corporations and high-growth startups alike, all while helping India's gig workers upskill and create the future they want. We are proud to be a part of their mission as the team goes on to empower India's entrepreneurs and shape the course of technological advancement in tier 2 cities," ," said William Bao Bean, Managing Director of Orbit Startups.
Founded in 2019 by Kajal Malik, Vidyarthi Badireddy, and Utsav Bhattacharjee, PickMyWork is a gig platform that helps digital companies acquires end customers for their products through a Pay-per-task model at a very low CAC.