The undisclosed amount to help Unbxd expand operations & scale faster
May 05 2016, 12.58 PM IST || Pocket News Alert
New Delhi, May 05, 2016: Unbxd, a Bengaluru based leading provider of eCommerce product discovery software, has secured an undisclosed amount of capital in the Series B round of funding. The funding was led by entities advised and managed by Nirvana Venture Advisors, along with existing investors including IDG Ventures, Inventus Capital, and Indian Angel Network. This is slated to help the startup grow faster, and scale the product to dominate the online retail market globally.
Further elucidating about the announcement, a proud and happy Pavan Sondur, Co-Founder & CEO at Unbxd said, “We are delighted to have secured this significant Series B round of funding. The capital raised will help us expand faster, acquire the right talent and further augment our available infrastructure. We are motivated more than ever to build a stronger and robust product and extend the best services possible to our clients.”
“We are excited to partner with the Unbxd team in their endeavor to bring world class search experiences to retailers who have an online presence. We have been very impressed by the capabilities of the team and are looking forward to the company further expanding their global footprint.” said Rajan Mehra, Managing Director at Nirvana Venture Advisors.
The startup has been actively helping eCommerce companies deliver a truly superior shopping experience that is relevant and personalized as per the usual behavior patterns of their customers. Their platform is already serving 200 Million eCommerce visitors a day. They expect to grow 10x in by end of this year. Incepted in 2011, Unbxd has already acquired some big ticket clients and a versatile team that believes in providing a truly exceptional customer experience. Additionally, the product’s potential to become the disruptor in the market segment has been the key driving force behind the successful Series B funding of the brand.
According to Venkatesh Peddi, Executive Director at IDG Ventures India, “Unbxd has grown very aggressively, and their successful expansion into North American markets validates their huge potential”. He added “We continue to remain impressed with the passion and drive of the founding team and are happy to be able to support them in their journey”
Having grown exponentially in the last 10 months, Unbxd is now looking at strengthening its reach in the North America region increasing its user base for enterprise retail customers. “Our relevancy engine and machine learning models have consistently delivered value to some of the biggest eCommerce sites in the world” said Prashant Kumar, Co-founder and CTO. He added – “Had Unbxd been a standalone eCommerce site, we would be the biggest eCommerce company in India in terms of volume of traffic and GMV served”
About Unbxd
Unbxd Inc, is an on-site product discovery software for ecommerce companies that provides search, navigation, product recommendations, merchandizing and analytics solutions for eCommerce companies. Unbxd’s products make it easier for eCommerce players to showcase targeted & relevant products and recommendations to visitors and track visitor interactions. Having been incorporated in October 2011, Unbxd has quickly grown into a leading personalization, search & recommendations provider in India. The company’s core values are innovation, accuracy and reliability.
Unbxd’s highly optimized cloud infrastructure enables several e-commerce platforms to provide advanced search and recommendations on their websites. This platform has helped 100+ enterprise and mid-market retailers improve conversions and increase topline revenues.
To learn more about the company and its products, please visit http://unbxd.com.