New Delhi based Convosight, a community management platform, has raised $4 million in a bridge funding round, dubbed ‘pre-Series A’, from IvyCap Ventures and Sequoia Capital India's Surge accelerator programme.
The company plans to use the capital raised to strengthen its team across product, marketing, and invest further in technology and data science, it said in a statement.
Convosight is part of Surge’s third cohort which has 15 early stage startups.
As part of the investment, IvyCap Ventures founder and managing partner Vikram Gupta will join Convosight’s board.
“Communities are the future of how people will interact online. There are half a billion engaged users across online communities in Facebook today, created by individuals, influencers or businesses around common interests. The company plans to scale its reach to millions of community entrepreneurs by further building upon its product,” Tamanna Dhamija, co-founder and CEO of Convosight said.
Convosight uses data analytics and machine learning to help administrators and brands create, moderate, grow and leverage communities meaningfully. With a vision to create and empower community entrepreneurs, it offers a product suite that allows Facebook group administrators to track growth trends and conversation insights, control spam and manage content through smart recommendations, it said in the statement.
The company was launched in October 2019 by Tamanna Dhamija, Tarun Dhamija and Kartik Bansal. Prior to Convosight, Tamanna and Tarun founded Baby Destination, a network of parenting communities in India.
The company claims it is being leveraged by more than 2,500 communities globally with over 30 million community members and currently works with brands such as Nestle, J&J, Reckitt Benckiser, P&G and Abbott.
“We believe that there is immense value in application of data analytics and machine learning for managing and growing social media communities. 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. We are super excited to work with founders and Surge in its scale-up journey,” Gupta said.