Dating app TrulyMadly raised $2.1 million in pre-series A from Vijay Shekhar Sharm & InMobi co-founders Abhay Singhal and Piyush Shah, where startup incubator Venture Catalysts, 9 Unicorns, angel investor Ruchi Sihare, and existing investors Inflection Point Ventures also participated
The funding round comes close on the heels of a 4X revenue growth for the company from tier-II and tier-III towns, such as Bhubaneswar, Gwalior, Kanpur, Patna, Rajkot, Varanasi & Vijayawada, claims it has over 8.5 million users at the moment.
Will use the fresh capital to build new product offerings, expand into other countries and “boost its technology by leveraging Artificial Intelligence (AI) and Machine Learning (ML)" algorithms.
“Our next stage of growth will be led by further developing our technology platform to enhance experience and increase our reach in tier-II and tier-III cities," said Snehil Khanor, chief executive officer (CEO) and co-founder of TrulyMadly. “In the next six months we are slated to launch some amazing new product features to cater specifically to the Indian way of dating," Khanor claimed.