Hyderabad | 3rd December 2019: Froogal, a pioneer of customer loyalty marketing, offering a unique mix of strategy consulting and operational services, recently announced that it has secured USD 1 million in its Pre-Series A funding round, led by US-based angel investors. The latest funds will be allocated towards achieving greater geographical expansion, realizing global partnerships and product enrichment. Headquartered in Hyderabad, Froogal is currently seeking rapid expansion into the markets of Mumbai, Bengaluru, Chennai and Gurgaon. The company is also looking at channelizing partnerships with global vendors.
Founded by Jeevan Chowdary M (Founder & CEO) and Harshit Harchani (Co-Founder & CTO), both Alumni of IIIT Hyderabad graduated in 2017, Froogal has been redefining customer loyalty by providing customers with aspirational rewards that are customized and goes beyond traditional cash rewards. Catering to brick-and-mortar businesses, the company leverages data-driven insights to deliver automated, personalized and high-impact marketing campaigns. It combines customer data with modern technologies like AI and ML to offer advanced loyalty programs, thereby helping companies better engage with their customers. The USP of Froogal lies in its omnichannel approach that allows customers to seamlessly redeem rewards, ask queries and raise complains.
Having served businesses across multiple sectors including F&B, retail, beauty and wellness, and fashion and apparel, Froogal has successfully reinforced its position as a domain-leader within a short span of time. With an employee strength of over 50, the company caters to some of the country’s top brands including Cream Stone, LOT, Big C, The Thickshake Factory and Pista House, among others. The latest infusion of capital will build this narrative further by enabling the company to strengthen its existing product line.
Sharing his insights, 24-year-old Founder and CEO of Froogal, Jeevan Chowdary M, said, “In today’s digital era, rising customer expectations have forced businesses to take the digital route and expand their services beyond traditional walls. However, these organizations often fail to retain their customers in the competitive environment due to budget constraints, inadequate technological infrastructure and lack of human expertise. Through our tailor-made offerings, we help them develop loyalty programs that can drive repeat business and build a community of loyal brand advocates. Broadly speaking, Froogal acts as an intelligent tool for CXOs, automating most of their marketing needs. With this round of funding, we aim to expand across new markets and target audiences. It will also help us strengthen our technological framework and diversify our product portfolio.”
Talking about the company’s vision and mission, Jeevan added, “We are focused on addressing the pain points that hinder the growth of millions of brick-and-mortar businesses across the globe, ensuring their success. The idea behind the inception of Froogal was simple – we wanted to help businesses build long-term relationships with their customers at a time when brand loyalty is on the decline. The importance of understanding your target audience can’t be overstated, and if you do it right, you’ll be successful. Simply speaking, we drive the growth trajectory of our clients by enabling them to retain their customers.”
Froogal has three key offerings – Froogal Ascend, Froogal Seamless, and Froogal Consumer App. Froogal Ascend includes Customer Loyalty & Management, Customer Experience Management, Customer Analytics with predictive and data-driven insights, Engagement Marketing with advanced automation techniques via SMS / email/push notification and social media etc, and Offer Engine with mobile marketing and referral marketing includes. Whereas Froogal Seamless helps businesses adapt to omnichannel marketing strategy .i.e. creating an ecosystem for businesses to enhance their sales channels across web, mobile, etc. Deemed the “World’s #1 Digital Loyalty Wallet”, Froogal Consumer app allows consumers to digitize all their rewards in one place, which they can redeem at any time.