Scalenut, an artificial intelligence-based marketing and SEO startup, has reportedly closed a funding round worth USD 3.1 million, led by Amit Singhal, a former senior vice president and head of Google Search, and Saama Capital.
The firm, which is run by Scalenut Technologies Pvt. Ltd., received $400,000 in seed investment earlier this year from First Principles VC, AngelList, Titan Capital, Abhishek Goyal of Tracxn, and other angel investors.
The cash will be used by the business to continue platform development, employ personnel, and enter new markets.
Scalenut's software-as-a-service (SaaS) platform was introduced in early 2022 and caters mostly to small and medium-sized organizations by providing services for AI-generated organic content (SMBs).
Since the AI tool's introduction, the business has recorded over 100,000 new user registrations. The firm also reported a 10X sales increase over the previous six months.
The US and the UK are the two main markets that Scalenut targets. The company asserts that it helps businesses cut expenses by 90% and reduces research, planning, and content creation time by nearly half.
Mayank Jain, co-founder of Scalenut, has reportedly stated that the pandemic spurred fast digitalization across organizations, with a higher focus being placed on digital marketing.
He noted that firms have increased their attention toward organic marketing, to expand sustainably after realizing that extensive spending on sponsored advertising is not sustainable over the long term.
SEO and content marketing teams juggle a number of technologies to ensure that their SEO research, content development, optimization, and performance monitoring are at optimum levels, in order to boost organic growth. However, according to Jain, this is not only ineffective but also results in isolated team activities based on flawed insights and faulty strategy.
Scalenut has been hailed as a solution to this, providing SEO and content teams the tools they need to manage their organic marketing campaigns from a single platform and aid in the long-term expansion of enterprises.
Source Credit: https://www.vccircle.com/saasplatform-scalenut-raises-funds-from-saama-capital-others