NowFloats, a discovery platform which helps businesses get online and find more customers using proprietary auto-SEO technology, has closed a Series B funding of USD 10 Million via Iron Pillar and IIFL (Seed Ventures Fund I and Cash Opportunities Fund), along with Blume Ventures and Omidyar Network, who had invested in Series A as well.
NowFloats will invest the capital to further improve the new technology stack that drives customer support. It would now be a hybrid of automated and human interaction support system. NowFloats also plans to enable the larger enterprises to leverage automated SEO on top of their existing websites.
With respect to SMEs, NowFloats aims to go beyond discovery by simplifying online and offline transactions. The company plans to continue to invest in Digital Desh Drive, which has been instrumental in understanding the market, especially the Tier 2 and Tier 3 cities in India.
"Our product is geared towards making it as simple as possible for business owners to interact and add updates to their online identity. This is what primarily fuels the automated SEO engine of NowFloats. We are investing in creating a product that would be one day used by all the SMEs across the globe, and built out of India," said co-founder NowFloats, Neeraj Sabharwal.
"NowFloats' focus on product and fundamental business sense resonates well with Iron Pillar's beliefs that great businesses need to be built on solid foundations. We look forward to help building the business meaningfully beyond India through Iron Pillar's networks, especially in Asia Pacific and the US," said Managing Partner Iron Pillar, Anand Prasanna.