Indian community management startup Convosight has closed a $4 million pre-Series A funding round from Sequoia Capital’s accelerator Surge and IvyCap Ventures.
The round will allow Convosight, which leverages data analytics and machine learning to help brands grow online communities, improve technology and expand its marketing team. As part of the round, IvyCap founder and MD Vikram Gupta will join Convosight’s board.
Hyderabad-based Convosight was founded in October 2019 by Tarun Dhamija, Kartik Bansal and Tamanna Dhamija. Its tools allow admins to enhance their interactions with Facebook groups. India is Facebook’s largest national market with over 280m users – around a fifth of the country’s population. Around 326m Indian citizens use social media generally.
The startup says it is used for over 2,500 groups worldwide, home to 30m-plus users. Fortune 100 firms including Nestlé and P&G use Convosight’s suite.
“We believe that there is immense value in the application of data analytics and machine learning for managing and growing social media communities,” said Gupta.
“The uniqueness and inherent stickiness of the Convosight platform with its top tier customers made us very intrigued and we believe this is going to change the way users are engaged within online communities.”
Menlo Park, California-based Sequoia has cemented a position on India’s tech scene in recent years. Last August it closed a $695m India- and Southeast Asia-based fund it said will “double down on investments in both early and growth stage companies in the technology, consumer and healthcare sectors.”