Customer engagement startup Codemojo gets funding from CIO Angel Network
Chennai-based customer engagement startup Codemojo has raised an undisclosed amount of funding from the CIO Angel Network. Angel investor Sanjay Mehta and technology evangelist Manoj Chandiramani led the round from the network.
Codemojo, operated by Infinite Rewards Pvt. Ltd, was part of Reliance GenNext Hub's summer accelerator programme for 2016 and is operational in Bengaluru and Chennai.
The startup said in a statement that it will use the funds to expand its team and focus on business development. Presently, it operates on a subscription-based model and its service starts at $49.
Codemojo was founded in 2014 by computer engineer Shoaib Mohammed, who is also CTO, and Vijaykrishna Ramanathan, who is head of business development at the startup. It offers businesses a customer engagement platform. Once integrated, it can power the loyalty programme with gamification features such as achievements, badges, a reward wallet and referral system, which keeps the customer engaged.
"The online industry is going through a major shift; the focus is moving from GMV (gross merchandise volume) and downloads to driving repeat transactions and selling premium subscription services. With Codemojo in place, businesses across different sectors don't need to reinvent customer engagement solutions for their business," said Ramanathan.
Codemojo was earlier called D Rewards where it offered customer engagement solutions to online and offline players; Reliance Retail was its major offline customer. In its new iteration, launched in March 2016, it has taken its plug-and-play solutions online. The reason it pivoted to online is because the offline play was resource-heavy and required more pepple on the ground, Ramanathan told TechCircle.
Other players in the segment that offer similar services are Mumbai-based Customer360, which raised funds in May this year from Vishwas Patel, founder and chief executive of payment solutions venture CCAvenue. The firm offers companies SaaS-based tools for video chat, screen sharing and mobile in-app support for customer engagement
Another firm Smartwards Services, which enabled offline retailers to identify, track and engage existing customers and walk-ins, was acquired by Gurgaon-based cloud telephony startup Knowlarity in May.
One of the more well-funded startups in the customer engagement space is Chennai-based Freshdesk, which has till date received $94 million from investors such as Tiger Global, Accel Partners and Google Capital. Its flagship product is a cloud-based software that enables companies to engage with customers via email, phone, websites, forums and social media.
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