Wobb Raises INR 2.1 Cr Pre-Seed Round From Titan Capital, Point One Capital And Others The company will use the funds to enhance product experience for its fast-growing base of marketers and to build a strong leadership team to solve even bigger challenges that prevail when running campaigns with social media influencers
By Prabhjeet Bhatla •
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Wobb – a platform for marketers to find and work with Influencers with ease, speed, and at scale, on Monday announced to have raised INR 2.1 crore in pre-seed round from lead investors Titan Capital led by Kunal Bahl and Rohit Bansal (Snapdeal) and Point One Capital. The funding also saw participation from a marquee group of angel investors including Alok Kohli (PepsiCo), Sanjeev Bhargava, and several others.
The company will use the funds to enhance product experience for its fast-growing base of marketers and to build a strong leadership team to solve even bigger challenges that prevail when running campaigns with social media influencers.
"With the latest round of funding raised, we aim to accelerate our product roadmap journey with even better experience for our influencers and marketers. We are organically growing 100 per cent month-on-month and seeing high retention and repeatability among our customers. We are also witnessing increasing marketing spend over time, which is translating into higher incomes for our influencers as well. We are glad to be backed by industry leaders who understand our area of work," shared Ishan Jindal, founder, Wobb.
Influencer marketing today is a manual, time-consuming, and non-scalable activity. Wobb makes it easy for marketers to post their influencer requirements for free, get hundreds of influencer applications, and hire influencers within hours. Even after hiring, marketers describe coordinating with influencers for content approvals, payouts, and end-delivery to be a serious headache. With Wobb, marketing managers today are easily able to export influencer addresses for product dispatch, disburse milestone-based payouts, track real-time progress, and measure influencer level performance. Similarly, for Influencers, Wobb platform offers tools necessary to participate in hundreds of campaigns at one place, send their work for proofing and approval, which allow brands and influencers to engage transparently and, in a time-bound manner.
"Today the influencer marketing community has the ability to extend brand exposure and raise brand awareness among the right target audience. Consumers have completely moved towards a digital economy and brands are seeking appealing and creative content. This format of marketing is helping the brands to attain exceptional growth and maintain the trust factor among its consumers. Wobb is doing a tremendous job and we are happy to have been associated with them," said Bipin Shah, partner, Titan Capital.
Wobb was founded by IIT Delhi alumni Ishan Jindal in 2020 with two major objectives - simplify influencer hiring and to improve measurability, which is now possible with Wobb's unique pixel technology that gives a whole lot of data including sales, traffic, impressions from your influencer campaigns setting it apart from everyone else, the platform said.
"For brands across sectors and stages, influencer marketing has become an essential part of the marketing mix today. However, the current processes that facilitate influencer transactions are completely broken. Discovering the right influencers is a pain, there is no transparency nor pricing standardization, payments is another challenge, and finally tracking ROI is simply non-existent. It's time launching & tracking influencer campaigns became a productized experience, at par with launching a Google ad or a FB campaign. Wobb is driving this fundamental shift from the status-quo through its focus on simplicity, transparency, measurability and automation. We are proud to be partnering with them," commented Mihir Jha, founding partner, PointOne Capital.
In a short span of time, 300 brands like HDFC Life, Plum Goodness, Emami, BIBA Apparels, Casio trust Wobb for their influencer marketing needs. Wobb has completed 5000 influencer campaigns since launch and has over 1 million micro, macro & category A influencers over across 100 categories.
