Online Dating Platform TrulyMadly raises $2.1 Million in Pre-Series A Funding Round
Indian-origin online dating and matchmaking platform, TrulyMadly has raised $2.1 million in a pre-Series A funding round led by Venture Catalyst, 9Unicorns, Jana k. Balan, Negen Capital’s Neil Bahal and Ruchi Sihare. The round also saw the participation of existing investors Inflection Point Ventures, The Chennai Angels, and AngelList. Paytm's Vijay Shekhar Sharma, InMobi's Abhay Singhal and Piyush Shah, Nodwin Gaming's Akshat Rathee, and Dr. Vaidya's Arjun Vaidya were among the startup founders who contributed.
Snehil Khanor, one of the company's founding members and first product manager, took over and overhauled TrulyMadly in December 2018, despite the fact that it was established in 2014. Khanor and co-founder and Chief Technology Officer Amit Gupta formed a new core team at TrulyMadly and revamped the app to its current form under Crescere Technologies Pvt. Ltd.
TrulyMadly bridges the gap between casual dating apps and matrimony websites for those searching for something meaningful, by themselves and for themselves, without having to resort to matrimony websites that are mostly based on caste, faith, and family wealth.
With 85 lakh users, the app provides compatibility and verification-based matchmaking services. The homegrown online dating app aims to set itself apart from industry heavyweights Tinder and Bumble.
The pre-Series A funding round follows TrulyMadly's 10-times growth in Tier II-III cities such as Bhubaneswar, Gwalior, Kanpur, Patna, Rajkot, Varanasi, and Vijayawada, among others, during the coronavirus lockdown.
“The strong growth is backed by our mission of removing the stigma associated with dating and dating apps in India,” Khanor said. “The 4X growth in revenue over last year is reflective of the value our proprietary technology has brought to young millennials with serious intent towards relationships.”
The Delhi-based startup now intends to invest in technology and extend its presence in India's Tier II-III cities, leveraging AI/ML to improve user experience.
Users of the TrulyMadly app will find partners based on factors other than religion, ethnicity, skin tone, and wealth. It has developed a Compatibility Assessment Tool with feedback from leading Indian psychologists to keep bad actors at bay. According to the organisation, 42 percent of profiles that apply to join its group are rejected.
The app can be accessed via Android and iOS and as a Progressive Web App (PWA), with more than 6 Million users. It is one of the most useful technology to suggest highly compatible matches to its users.
Snehil Khanor, one of the company's founding members and first product manager, took over and overhauled TrulyMadly in December 2018, despite the fact that it was established in 2014. Khanor and co-founder and Chief Technology Officer Amit Gupta formed a new core team at TrulyMadly and revamped the app to its current form under Crescere Technologies Pvt. Ltd.
TrulyMadly bridges the gap between casual dating apps and matrimony websites for those searching for something meaningful, by themselves and for themselves, without having to resort to matrimony websites that are mostly based on caste, faith, and family wealth.
With 85 lakh users, the app provides compatibility and verification-based matchmaking services. The homegrown online dating app aims to set itself apart from industry heavyweights Tinder and Bumble.
The pre-Series A funding round follows TrulyMadly's 10-times growth in Tier II-III cities such as Bhubaneswar, Gwalior, Kanpur, Patna, Rajkot, Varanasi, and Vijayawada, among others, during the coronavirus lockdown.
“The strong growth is backed by our mission of removing the stigma associated with dating and dating apps in India,” Khanor said. “The 4X growth in revenue over last year is reflective of the value our proprietary technology has brought to young millennials with serious intent towards relationships.”
The Delhi-based startup now intends to invest in technology and extend its presence in India's Tier II-III cities, leveraging AI/ML to improve user experience.
Users of the TrulyMadly app will find partners based on factors other than religion, ethnicity, skin tone, and wealth. It has developed a Compatibility Assessment Tool with feedback from leading Indian psychologists to keep bad actors at bay. According to the organisation, 42 percent of profiles that apply to join its group are rejected.
The app can be accessed via Android and iOS and as a Progressive Web App (PWA), with more than 6 Million users. It is one of the most useful technology to suggest highly compatible matches to its users.
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