Funding Alert: EasyRewardz raises Series B round from Flipkart

• Acquisition: Lead Management System – Capturing leads through web forms, social widgets, walk-ins. Mapping leads to opportunities, assign notes, follow-ups, revenue values, and life-stages, and automatically scoring and marking leads, basis funnel stages.
• Activation: Campaign Engine – Multi-wave and tailor-made campaigns on the basis of services availed, type of customer and location.
• Growth: Loyalty & Rewards Toolkit – Create a loyalty programme mapped to rewards for promoting specific customer behaviour.
• Engagement: Ticket Management, Feedback, Chatbot – Track customer’s feedback, complaints and queries across all touch-points. Influence communication to make it uniform and conversational.
• Retention: Analytics, Campaigns, Rewards – Fee renewal reminders, churn alert, win-back strategy, conduct surveys, next best action, service recommendations.

“CRM Software has a market size of $48 billion and is seeing a 16 percent Y-o-Y increase globally, with APAC growing faster at over 20 percent. We see CRM Software adoption fastest amongst SMBs in retail as customer-centricity continues to hold centre-ground in retailing,” said Soumya Chatterjee, Co-founder and CEO of EasyRewardz.

“We have firmly established our position in India, and have a toe-hold in MENA. We will now accelerate our global expansion to meet the growing demand of Customer Experience Management platforms,” said Tejas Kadakia, Co-founder and Sales Director at EasyRewardz.

Easyrewardz major clients include RBL Bank, Kotak Mahindra Bank Limited, Genesis Luxury, Spykar, Soch, Mufti, Rangriti, V-Mart, PVR, Himalaya Wellness, VIP and more. It works with over 150 brands across more than 8,50 retail stores in over 250 locations.

On the other hand, the investment by Flipkart into EasyRewardz is part of its strategy to invest in startups. Earlier this year, the ecommerce major had announced the creation of a venture capital fund to back early-stage startups. While the size of the fund was not disclosed but, Flipkart’s focus areas of investment are ecommerce, fintech, payments, and complementary segments.