We are discussing AI Startup Fibr Secured $1.8 Million in its New Funding Round Led by Accel:
Fibr is an AI startup offering a personalized platform that secured $1.8 million in a funding round led by Accel. Several investors and angel investors, including CRED founder Kunal Shah and 2 am VC, participated in the round. The startup will use these fresh proceeds to enhance AI capability, scale its operations, increase its workforce, expand its network, and increase its customer base.
The company offers an AI-driven personalized platform that enables brands to deliver personalized content and create customized and unique experiences for users visiting their websites. The platform allows companies to offer marketing messages according to individual behavior and preferences. The Company secured $2 million from its existing investors in its seed funding round during 2023. The startup helps companies minimize customer acquisition costs while improving conversion rates. The company offers a flagship product, a pilot that offers customized landing pages to help improve conversions by offering personalized landing pages for email ads, SMS, and other communication.
The Bengaluru startup works to meet the needs of its clients in sectors such as home improvement, broadband, insurance, and consumer services. The company aims to operate in the US, Canada, and India. The firm plans to expand its network in the European Market. The AI startup is building a beta version of its second product, blocks developed to help businesses scale their business and content, such as converting high-performance Facebook ads to Google ads, blogs, or other social media posts. The company plans to expand into the international market.
The co-founder of Fibr, Ankur Goyal, mentioned in an interview with ET that the startup has a major focus on the US market. The company expects around 70 percent network in the US and 20 percent in India this year, followed by launching its services in Europe. The investment shows trust in Accel in the company’s market potential and business model.
Accel partner Prayank Swaroop mentioned that the startup could be a game-changer in the ad ecosystem for companies and brands facing customer acquisition challenges due to privacy protection and cookies. This AI startup uses an artificial intelligence-driven and advanced approach to offer its services in the ad marketplace. The development came just after the artificial intelligence sector showed increased investor interest.
Conclusion
Fibr is an Artificial Intelligence-based platform that secured $1.8 million in its new funding round from Accel with the participation of 2 am VC and angel investor Kunal Shah. The company intends to use this fresh capital to enhance its AI capability in the platform, scale its operations, expand into the international market, and increase its workforce. The company aims to help small businesses reduce customer acquisition costs and conversion rates. The firm currently operates in The US, India, and Canada and plans to expand in the European market. The flagship product offered by the startup, Pilot, offers customized landing pages to companies to improve personalized experience.
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