SaaS firm SurveySparrow pockets seed cheque

SaaS firm SurveySparrow pockets seed cheque
Photo Credit: Photo Credit: VCCircle
2 Apr, 2019

SurveySparrow, a cloud-based customer experience platform which offers tools for online surveys, has raised $1.4 million (around Rs 9.6 crore) from seed-stage VC fund Prime Venture Partners. 

The Palo Alto-headquartered software-as-a-service (SaaS) company, which has a presence in Kochi, said it will utilise the funds for product development.

Started in 2017 by Shihab Muhammed and Subin Sebastian -- former employees of SaaS majors Freshworks and Zoho, respectively -- SurveySparrow uses Conversational User Interface (CUI) and form-like output to share mobile-first surveys while also assisting with data collection. 

The company claimed its offerings have helped increase survey completion rates by 40%. SurveySparrow works with customers such as Chinese cab-hailing company Didi, logistics player FedEx, Deloitte Digital and SAP, among others.

“We are bullish on customer experience becoming a crucial decision point in choosing the right service, with the world moving towards a subscription service economy,” said co-founder Mohammed, who is also the company’s CEO.

SurveySparrow, which competes with the likes of California-headquartered Survey Monkey and General Atlantic-backed SaaS company Typeform, is banking on its unique user interface to get ahead in the market.

“SurveySparrow has built a mobile-first, conversational survey platform. Whether it is consumers, employees or marketers, we believe a highly engaging survey platform will be the cornerstone to measure and improve the brand experience,” said Amit Somani, managing partner at Prime Venture Partners.

Bengaluru-based Prime Venture Partners is an early-stage investment firm that was founded in 2011. Its key investment areas include fintech and financial services, SaaS and enterprise solutions, and healthcare and education.

Last year, Prime announced the close of its third fund at Rs 400 crore (about $60 million).