Recent news from PipeCandy, a data science startup reveals that the firm received $1.1 million in a recent seed funding round organized by IDG Ventures India, Axilor Ventures, Silicon Valley based Emergent Ventures, Indian Angel Network, and other individual founders. Ranjith Menon, Executive Director, IDG Ventures India, comments “Customers see great proposition out of PipeCandy’s platform as it applies technologies such as Artificial Intelligence and data science to outbound prospecting. Only about 3% companies are adopting technology to reach out in a structured manner. Most of the space remain underexplored.”
The Chennai-based startup was founded in February 2015 by Shrikanth Jagannathan, Murali Vivekanandan, and Ashwin Ramasamy. The firm utilizes data science and proprietary algorithms to offer intelligence to sales representatives targeting firms in retail and e-commerce. For example, retailers with omni-channel presence can be discovered by a point of sale software company. This can further be filtered based on the number of stock keeping units they sell. Besides, its clientele list features companies like Shyp, Cloudcherry, Freshdesk, Chargebee, Zarget, and FarEye.
PipeCandy tracks about 50 million companies and 110 million decision makers, who are generally above managerial level. The startup performs a combination of crawling for their own information. The data providers associated with the firm furnishes it with commodity data, for instance, email ids and phone numbers. Ramasamy extols, “We have a data science team which runs industry specific data science model. We are a data insight company.”
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The startup has been making significant strides in the data science arena, since its inception. The recent fund will be utilized by the firm to expand its data science team. PipeCandy also plans to venture into other domains such as healthcare and commercial real estate, leveraging the fund.