Image Courtesy: Jeevan Chowdary
Hyderabad: Froogal, a customer loyalty marketing service provider has shared that it has secured $1 million in pre-series A funding round.
The company offering a unique mix of strategy consulting and operational services said that the funding initiative led by US-based angel investors will be allocated in achieving greater geographical expansion, realizing global partnerships and product enrichment.
The latest infusion of capital is expected to build the company strengthen its existing product line.
The company is looking at rapid expansion in the markets of Mumbai, Bengaluru, Chennai and Gurgaon. The company is also looking at channelizing partnerships with global vendors.
"Founded by Jeevan Chowdary M (Founder & CEO) and Harshit Harchani (Co-Founder & CTO), both Alumni of IIIT Hyderabad graduated in 2017, Froogal has been redefining customer loyalty by providing customers with aspirational rewards that are customized and goes beyond traditional cash rewards. Catering to brick-and-mortar businesses, the company leverages data-driven insights to deliver automated, personalized and high-impact marketing campaigns. It combines customer data with modern technologies like AI and ML to offer advanced loyalty programs, thereby helping companies better engage with their customers. The USP of Froogal lies in its omnichannel approach that allows customers to seamlessly redeem rewards, ask queries and raise complaints," added an official release.
The startup's CEO Jeevan Chowdary was quoted as saying, "Through our tailor-made offerings, we help them [businesses/clients] develop loyalty programs that can drive repeat business and build a community of loyal brand advocates. Broadly speaking, Froogal acts as an intelligent tool for CxOs, automating most of their marketing needs. With this round of funding, we aim to expand across new markets and target audiences. It will also help us strengthen our technological framework and diversify our product portfolio."
He further added, "We are focused on addressing the pain points that hinder the growth of millions of brick-and-mortar businesses across the globe, ensuring their success. The idea behind the inception of Froogal was simple – we wanted to help businesses build long-term relationships with their customers at a time when brand loyalty is on a decline. The importance of understanding your target audience can't be overstated, and if you do it right, you'll be successful. Simply speaking, we drive the growth trajectory of our clients by enabling them to retain their customers."
Disclaimer: Image shared by Froogal - Jeevan Chowdary, Co-Funder & CEO.