NowFloats, a digital enabler for Small and Medium Businesses (SME) has raised $10 Million in Series B round of funding from Iron Pillar Capital and IIFL. The investment has been made by Seed Ventures Fund I & Cash Opportunities Fund of IIFL. The existing investors Blume Ventures and Omidyar Network also participated in the round.
“Our product is geared towards making it as simple as possible for business owners to interact and add updates to their online identity,” said Neeraj Sabharwal, Co-founder, NowFloats.
“This strategy does not drive RoI over a longer time-span as the content becomes non-relevant with time. We, at NowFloats, want to re-define the market for business websites, where the business owners only have to worry about the content on the website, and the technology takes care of other aspects like design, performance, discovery (SEO), marketing (SEM), enabling transactions (payment gateway) and customerlead management, etc,” he added.
The startup plans to use these funds to enhance its technology and increase customer support as the company aims to be a hybrid of automated and human interaction. It also plans to sharpen its services for the small and medium enterprises and expand further into the tier-II and tier-III cities in the country.
Earlier, NowFloats had raised Series A funding from Omidyar Network and existing investors Mumbai Angels, Blume Ventures, and Hyderabad Angels. Additionally, it had also acquired chat-commerce platform, LookUp, in July last year.