HuddleUp announced that the company has successfully raised, USD $550,000 in seed funding from a clutch of prominent investors. Anicut Capital which manages two debt funds and an equity-based angel fund with an AUM of INR 1700cr was the lead investor along with other investors like Blume Founders' Fund, First Cheque, Huddle & Upsparks. Additionally, Huddle Up has also on-boarded prominent founders and Angel Investors to strengthen their team like Dr.Ritesh Malik (Innov8), Rajesh Sawhney (GSF), Gireesh S (Freshworks), Mandeep Manocha (Cashify), Sameer (SuperMorpheus), Manu Jain (VAMA) among others, in the round.
The funding will empower HuddleUp to build a robust team with a keen focus on accelerating growth in Indian & global markets. This will also enable the company to strengthen its mission of making work-life meaningful for every employee. The allocated funds will help HuddleUp take the initial steps in this direction and provide flexibility to build an ardent and strong product with an industry-led expert team. Additionally, the fundraising will also help HuddleUp to access mentorship & network of the prestigious VCs to further their mission; i.e - to make work meaningful for every employee & redefine the way productivity & wellbeing are measured and executed in companies.
On the funding Kshitij Mohan, Co-Founder and CEO, HuddleUp, said, “We are highly enthusiastic and extremely grateful with this funding, at this juncture of our journey. With the funding, we are looking at full-funnel growth, strengthening our core, and expanding our footprint. With our pragmatic investors and VC portfolio, we have received a perfect blend of experience and mentorship. We are walking with the vision to redefine the ways in which productivity & well-being are measured and executed in companies. The last few months have witnessed tremendous growth and we aim to continue the success trajectory by being laser-focused on product experience and customer delight. Our diverse client portfolio is a testimony of the value we bring in and ROI that we have been able to bring to our clients.”
Over the span of 8 months, HuddleUp has grown 18 times in revenues with a user base of 10,000+ employees. HuddleUp consists of a dynamic client portfolio of MPL, ZestMoney, Instamojo, and StepSetGo among other prominent enterprises in the pipeline.
“With the onset of hybrid and remote working ecosystems, organizations have realized the need to focus on the experiences of their employees to retain their top talent, right from helping them in smooth onboarding to building continuous feedback loops & 1-on-1s to defining their goals & taking care of their wellbeing. Hence, the market is expected to grow exponentially, with HuddleUp aiming to impact millions of employees at work in the coming years. Their vision to solve the critical need of enterprises today with robust approach and agile thinking will enable them to grow multifold”, said, Ashvin Chadha, Founding partner, Anicut Capital
Mohamad Faraz, Founding Partner, Upsparks said, "At Upsparks, we closely monitor SaaS startups among other leading technologies, and we have been tracking HuddleUp since they launched in 2021. We have seen it grow stronger and be a leading choice for various companies. Kshitij and Varun have worked very hard to keep the company growing with the sole purpose of bringing employees together in any organization, which in turn increases retention. They have cracked this code and we look forward to seeing them grow further in the coming years."
In the coming years, Huddle Up aims to expand its footprints nationally and internationally.
