NowFloats Secures Series A Funding Led by Omidyar Network
Hyderabad-based Nowfloats, The two years old technology startup has raised an undisclosed amount of Series A funding. The funding is led by Omidyar Network along with existing investors Hyderabad Angels, Mumbai Angels and Blume Ventures which also participated.
The technology Startup provides a service which they refer to as “Location Based SEO” Which means when customers search for products, they search for things in location and are more likely to buy them from local business. NowFloats Bridges the gap between customers and local businesses by creating, managing and updating local content through their cost-effective, customer centric and innovative technology interface.
The company aims at investing in technology and expanding their customer footprint globally and is focused on helping small business getting bigger, says Company’s CEO Jasminder Singh Gulati. The company has a strength of 86 employees, out of which 56 are catered towards direct sales.
The Startup was founded by Nitin Jain (COO) and Jasminder Singh Gulati (CEO) in 2012. Nitin Jain an alumni of Indian School of Business, Hyderabad, while Gulati pursued a Marketing program from University of Pennsylvania.
The Tech startup has two flagship products, Nowfloats Lighthouse and NowFloats Wildfire that helps in automating organic and inorganic discovery across customers segments.
The company has 33000 customers and focuses on expanding to cities like Mumbai and Chennai, along with Nairobi and Southeast Asia. The company has also partnered with AskMe in India and Microsoft 4Afrika Which enables most small businesses come online.