Betterhalf closes $3M pre-Series A round
Betterhalf today — with over 700K users — can confidently vouch that we have carved out a niche to help ease the matrimony process for millions of urban Indians.
With a $1M annual run rate and 1M app installs, we’re excited to share yet another milestone. We have recently raised $3M as part of pre-Series A funding from Y Combinator, S2 Capital, Quiet Capital and marquee angel investors like Kunal Shah and Samvit Ramadurgam.
One of the notable incidents happened in the month of November 2020, when Y Combinator called us for an interview and confirmed our spot in their Winter 21 batch. During the fast track startup accelerated experience, we achieved $75,000 in monthly revenues and our user growth grew from 50K to 125K MAU. We facilitated over 200K matches and 4M message exchanges every month then.
During the COVID-19 wave, we not only retained our employees but also launched brand new product features driving considerably high app engagement session time with >10 minutes per user day.
THE NEXT CHAPTER
With the infusion of new funds, we now have 3 years of runway which gives time and financial predictability for the team to be creative and pick on the bold bets.
Introducing New Features
We recently introduced Sparkles — a way for our users to prominently feature them on top of other connection requests. With over 40% women workforce at Betterhalf and the feedback of our female users, we are now positioned to introduce more safety features, profile verification features to ensure trust and authenticity of information of user profiles and advance our AI compatibility matching algorithms.
Boosting User Engagement
We see a lot of users getting a match but they don’t necessarily know how to break the ice and start conversations. We are working on making the instant chat experience more seamless and introducing features to help start conversations in the future.
Becoming Discoverable Organically
Lately, our female users have told us that even though Betterhalf is one of the best matrimony apps that gives them the control to find their partner — unlike traditional matrimonial sites where parents strongly influence their partner search — not many of their friends know about us.
This is an important area for the company to look into and we’re going to address this with our investments in organic product discovery across social media channels, partnerships with female online communities and building shareability features for them.
We’d like to thank everyone who has stood by us — our users, employees and investors — for their continued confidence in the company. Here’s to growing and building the Betterhalf community and staying the most relevant in the matrimony space!
Lastly, if you wish to be a part of this incredible journey with a steep learning curve and see the thrill of startup growth to Series A and beyond, we are hiring across different roles – Engineering Backend Developers, Product Managers and Marketing Managers.
Cofounder & CEO, Betterhalf.ai