Accel, Matrix lead $1.5 mn seed funding round in SaaS startup Zarget
Osmnez Technologies Pvt. Ltd, which runs SaaS (software as a service) based conversion rate optimisation startup Zarget, has raised $1.5 million (around Rs 10 crore) in seed funding led by Accel Partners and Matrix Partners. Cloud based SaaS startup Freshdesk's CEO Girish Mathrubootham, too, participated in the round.
The firm is also looking to raise Series A funding by the end of 2016, Arvind Parthiban, CEO and co-founder, Zarget, told Techcircle.in.
The funds raised at present will be used for research and development (R&D) and for introducing more products. By the end of the year, the firm will launch one more product, Parthiban added.
"Zarget has developed a true product innovation in the field of conversion rate optimisation and aims to help companies enhance their customer experience online," said Tarun Davda, managing director, Matrix India.
Zarget offers digital marketers three main products â€“ A/B testing, funnel analysis and heat mapping â€“ on a single platform. Customers can utilise the products via a Chrome plug-in. A/B testing helps optimise beyond login pages and can be used for improving checkout pages and various SaaS website tools without any of the related security vulnerabilities. Funnel analysis capabilities within Zarget allow companies to see where visitors are dropping off from the website by configuring multiple pages together. Heat mapping tracks where exactly visitors click on a website and then generates a report. However, as they do not track interactive design elements such as sliding banners, drop down menus and HTML files, Zagret has introduced the Chrome plug-in which sits on the client's website and gives a live report dashboard.
"This is just one feature among four to five navigator features we have brought in," added Parthiban. This allows users to track visitors in real time, instead of the "snapshot" approach that cannot capture visitor activities on dynamic elements.
Parthiban said he wanted to position Zagret as an affordable player in the space, as many businesses, particularly small and medium sized businesses, are going online, "We have introduced the product at a very low price point of $15. We are able to provide (products at this rate) because we sell globally from India and the business model working from India is very affordable," he said.
"Zarget is essentially helping companies refine and perfect their customer experience, which is key for any firm that wants to be successful in this day and age," said Anand Daniel, partner, Accel Partners.
Zarget was founded in 2015 by three ex-Zoho employees Arvind Parthiban, Naveen Venkat, and Santhosh Kumar. The present team comprises 24 members, 80% of whom are former Zoho employees.
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