SUMMARY
The funding round was led by Singapore-based investment firm Asia Partners and also saw participation from PayPal’s venture capital arm
The capital will be deployed to expand the startup’s footprint globally, shore up product portfolio and build AI product portfolio
Founded in 2014, SingleInterface is a full-stack platform that offers digital marketing, customer engagement, and ecommerce solutions for multi-location brands
Martech platform SingleInterface has raised $30 Mn in a “financing” round led by Singapore-based investment firm Asia Partners. The round also saw participation from PayPal’s venture capital arm, PayPal Ventures.
This is the first external round raised by internet firm Smile Group-incubated startup since its inception in 2014. The capital will be deployed to expand the startup’s footprint globally and ramp up product portfolio. A part of the capital will also be invested in building its portfolio of AI-driven products.
Founded in 2014 by serial entrepreneurs Tarun Sobhani and Harish Bahl, SingleInterface is a full-stack SaaS platform that offers digital marketing, customer engagement, and ecommerce solutions for multi-location brands.
“… With this funding, we are poised to tap into new markets and further solidify our position as a global leader in enabling marketing and commerce capabilities for multi-location enterprise brands through our product suite,” said SingleInterface’s cofounder and chairman Bahl (also the cofounder of Smile Group).
Commenting on the fundraise, Asia Partners cofounder Oliver Rippel said, “We are thrilled to be partnering with Tarun, Harish, and the SingleInterface team to support their growth ambitions in India and globally”.
The hyperlocal martech startup claims to enhance brand discovery, drive customer engagement and deliver seamless omnichannel experiences for its clients. It claims to cater to more than 400 multi-location brands spanning sectors such as food and beverage, retail, automotive, banking, among others.
It currently has operations in Asia and the Middle East, and counts the likes of TVS, CEAT, Audi, Samsung, Sharekhan, IDFC First Bank, and Puma among its customers.
“Our suite of products has proven to deliver remarkable revenue growth for our clients, accounting in some cases for 15-20% of their revenues… We are on a mission to empower our customers to drive further growth, enhance the customer experience, and provide rich business insights and context across their different locations, enabling them to grow and win locally,” said SingleInterface cofounder and CEO Sobhani.
The development comes at a time when funding for the enterprise tech sector has witnessed an uptick. The space saw 28 deals worth $305 Mn in the first quarter (Q1) of 2024, emerging as the third-most funded sector during the period.
Just a day ago, LogiNext cofounder Manisha Rajsinghani’s new GenAI SaaS venture SiftHub secured $5.5 Mn in funding from Matrix Partners India, Blume Ventures, and others
On the same day, Bengaluru-based SaaS startup Vodex raised $2 Mn in seed funding from Unicorn India Ventures and Pentathlon Ventures. Prior to that in February, another B2B SaaS startup Rupyz secured $1.2 Mn in seed funding from Merak Ventures and other angel investors.
