Venture Capital

locobuzz funding: Locobuzz gets pre-Series A funding from SIDBI Venture Capital

Read more at economictimes.indiatimes.com

Pune: Locobuzz, a digital customer experience platform, has raised Rs 9 crore in pre-Series A funding from Maharashtra State Social Venture Fund of SIDBI Venture Capital Ltd. The funds will be used to enhance the technological capabilities of the platform, scale up the team across functions and marketing and sales efforts.

Founded in 2015, Mumbai-based Locobuzz is a software-as-a-service (SaaS) platform which helps business-to-consumer brands with real-time analytics, consumer experience automation and insights and social media management.

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“This round of funding is really encouraging and we are excited to partner with SIDBI Venture for our next phase of growth,” said Vishal Agarwal, chief executive officer (CEO) at Locobuzz. “In the next couple of months, we will direct our attention towards further product development, business growth and marketing initiatives. We will be able to offer a lot more to our client partners.”

The company uses artificial intelligence, machine learning and big data analytics to help companies streamline and transform their customer experience. It works with several Fortune 500 companies in sectors such as banking and financial services, telecom, auto, retail and consumer goods.

“We are happy to see Locobuzz as a leading Unified Digital Customer Experience platform that services clients across key consumer-facing businesses. We look forward to working with Vishal and the team in Locobuzz to grow amidst a large market opportunity,” said Mahendra Lodha, vice president at SIDBI Venture Capital.

Read more at economictimes.indiatimes.com

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