The Hindu Business Line
SurveySparrow raises $1.4 million in seed funding
SurveySparrow, a cloud-based customer experience platform, has raised $1.4 million in seed funding from Prime Venture Partners, a venture capital company.
SurveySparrow allows users to create and share mobile-first, conversational surveys which are engaging and user-friendly. The SaaS startup will use the fresh funds in product development and build it into a continuous improvement platform. Since its launch, the company has conducted over 20,000 surveys and over 8,000 customers in 108 countries including DiDi, PaySafe, FedEx, Deloitte Digital, SAP, and Siemens.
The start-up is on target to clock more than 20,000 customers by the end of 2019.
Based in the US, SurveySparrow was founded in October 2017 by Shihab Muhammed and Subin Sebastian with offices in Kochi and Palo Alto. The global online survey software market is valued at $4.06 billion and is expected to grow at a CAGR of 11.25 per cent to reach a market size of $6.92 billion by 2022.
The start-up plans to take on its competitors with its unique spin on UI, moving surveys away from antiquated forms to conversations. The company is planning to hire across engineering, product development, marketing, and inside sales in the coming months, said Muhammed.
SurveySparrow is the world’s first survey software to offer both a conversational and form-like output, increasing the survey completion rate by 40 per cent.