You’ve read the title. We hope you will understand now if we say we can’t keep calm. The news is so big that we just can’t. Apologies! 🤭
We are delighted to announce our latest achievement - Betterhalf, India’s first marriage super app, has successfully raised $8.5M in our Series A Funding Round. Some of the major participants in the funding round were FinSight Ventures (Ex Bumble investor), Marquee investors like Mike Krieger, Co-founder of Instagram, and Arash Ferdowsi, Co-Founder of Dropbox.
Other key investors who participated in our Series A Funding Round were Rebel Fund, Nurture Ventures, Leonis Investissement, Derek Callow - Ex CMO of Bumble, Scott Belsky - Founder of Behance, Brendan O'Driscoll - Ex Product Head of Spotify, Manik Gupta - Ex-CPO of Uber, Punit Soni - Ex CPO of Flipkart, and Ravish Naresh - Co-founder & CEO of Khatabook.
After raising $3Million as part of our Pre-Series A funding round in March 2022, we’ve seen immense growth in the last 12 months. Completing our Series A round in current times is a testament to the hard work we’ve put in day in and day out.
Talking about the Series A funding, Pawan Gupta, Co-founder and CEO of Betterhalf said,
"It is through our continued growth momentum across all categories that Betterhalf has achieved impressive growth in the market. Our razor focus on becoming the super app of matrimony & full stack tech-enabled wedding services will drive our next set of growth & I would like to thank all our investors for being part of our growth journey. With positive cash flow and a super entrepreneurial-styled team, we are poised to give an incredible super app experience."
Among all categories, Online matchmaking service is on a sharp growth trajectory. Our Marriage Super App also has a full stack of tech-enabled wedding services like photography, venue booking, mehendi, DJ, etc. Apart from this, we have also recently launched the ‘AstroZodiac’ app, where people can talk to astrologers and get solutions for all life problems. We’ve seen exceptional business growth since our inception in 2019. But in the last 6 months, our annual revenue saw a 2X jump. And we didn’t stop here. In our high-record, phenomenal growth journey, we have seen 17% Month-on-month growth and recorded a total of $2.5M annualized revenue. In the last nine months, we’ve also witnessed approximately a 3X surge in our overall number of users, and it has helped us achieve more than 1 million monthly active users (MAU).
And in addition to all of the above, we have announced our 2nd ESOP Buyback. Our first buyback happened in January 2022 when we offered a buyback to employees of Betterhalf at the Pre-A stage. We have always believed in the idea of solving problems at scale through technology, and that’s why we’ve also decided to elevate Biru Kumar to Vice President–Engineering so that we never face any hindrance in solving problems.
Talking about the partnership decision with Betterhalf in our growth journey, Alexey Garyunov, General Partner, FinSight Venture, said
“Betterhalf represents a breakthrough technology in matrimony space. The platform knows how to leverage technology to its ability in solving large problems & build robust solutions for scale, especially full-stack tech-enabled wedding services makes us immensely confident. The LTV of Betterhalf is extremely high, something that we have not seen in the western world in this space. We look forward to partnering with Betterhalf in their continued growth and winning journey”
Our Series A funding round will help us become better and better. At Betterhalf, We’ve always believed in the power of technology, and that’s how we have become India’s New Age Matrimony App. Our tech-driven approach helps Indians choose their life partner as per their preferences.
We understand that this is an important milestone in our journey, and it wouldn’t have been possible without the love and support of our users. Thanks so much for trusting us!
Stay connected with us, and you’ll see that many more milestones will come.
Thanks so much again!!
We’ll go back to work now, Next round bhi to karna hai!! 😉 🤞
