Funding Galore: Prodigal gets $12 million funding, Odoo raises $215M & more
Bengaluru based company Prodigal, formed by Shantanu Gangal and Sangram Raje in 2018 raised $12 million in a Series A funding round led by Menlo Ventures, along with participation of existing investors Accel, Y Combinator and MGV.
Prodigal provides lenders and collection agencies insights from key customer interactions and offload repetitive tasks from agents to AI solutions, using conversational AI. They plan on using the funds raised to expand their team and majorly to expand prodigal’s suite of intelligent workflow and optimise products that enable clients to boost their productivity and serve customers in a far more efficient way.
Odoo, an all-in-one smart business software for small and medium sized enterprises raised $215 million from Summit Partners, a growth equity investor. The company has been on a mission to provide easy to use and low cost software solutions to simplify operations since 2005.
The product includes accounting, inventory, manufacturing, project management, HR, marketing, and website builder, among others. It has a large business app store with over 30,000 apps. The company has grown at a rate of more than 50% each year for the past ten years and is profitable.
MoEngage has recently announced a fresh fundraise of $32.5 million in a Series C1 funding round led by Multiples Alternate Asset Management and it completed an employee stock option plan (ESOP) buyback worth $1.5 million for its employees (current and former).
The Founder Raviteja Dodda describes MoEngage as a provider of AI-leveraged and cloud-based customer engagement platform.
The funding would help with significant investments in Sherpa, its AI engine, to add a layer of intelligence and make it easier for marketers to adopt an insights-led approach to customer engagement and towards accelerating the company’s growth.
In recent history, the previous funding for MoEngage was a Series C investment, where it netted $25 million. After bagging healthy returns Exfinity Venture Partners made an exit. Other investors like - Eight Roads Ventures, F-Prime Capital and Matrix Partners also participated in this round.
A video story-telling SaaS software based in Texas - One-Day raises $19M in a Series B round led by Volition Capital. Adding value to organizations across different sectors by simplifying the video content development process it has raised a total of $25 million to date.
The Co-Founder Clint Lee saw a gap across markets and turned it into an opportunity-personalizing the sales process, enhancing marketing capabilities, and increasing engagement OneDay’s SaaS technology records and distributes high-quality videos in seconds, all of which lead to increased income for its customers. In addition to marketing and sales, One-Day is being used to foster resident engagement, fuel employee hiring, and retention, and strengthen human connection using powerful storytelling.
One-Day has growth and added various features to their products as per the market requirements and that’s exactly how they have grown so far, they plan on utilizing the funds to accelerate growth through key hiring, market expansion, and continuing investment in best-in-class technology that will enable organizations to use video to drive growth and engagement.
Murf.ai, founded by IIT-Kharagpur classmates in October 2020 has raised $1.5 million in seed funding led by Elevation Capital. Murf.ai is a SaaS application powered by AI that lets it’s customers create “human-like” voice overs by putting a basic online voice studio in the hands of every content producer for movies and slideshows.
The investors appreciate how the Murf.ai team has identified a latent but deep unmet need for making voice overs easy. Given their strong tech and business capabilities, they were confident that the team would be able to democratise voiceovers and scale Murf.ai to great success. The firm hopes to make high-quality voice overs more accessible without hiring a voice artist or investing in expensive recording equipment.
The team plans on using the funds to build a passionate team of engineers and researchers to enhance their technology stack and develop new products, and expand the company’s market.