Online parenting network Parentune gets funding from Kae Capital & SEGNEL Venture
MUMBAI: Parentune, an online network for parents, has raised an undisclosed amount in its second round of institutional funding from Kae Capital and Singapore-based SEGNEL Venture. This is SEGNEL's second investment in an Indian startup after investing in alternative mobile payment platform Pokkt.
The five-year-old company is looking to use the capital to fund its product and technology roadmap. Parentune is a community network for parents that offers advice and solutions in areas of nutrition, health, education, child psychology and behaviour. Parents can buy value-added services such as live chat solutions and workshops, while the company also works with MNCs to offer brand-centric solutions.
"We have raised this round of funding to continue building a highly personalised support for parents with technology, data and intelligence at the centre of Parentune's growth," said Nitin Pandey, founder, Parentune.com. The company will launch the app and website in Hindi and will follow it up with a host of other vernacular languages soon.
The network will also use a part of the capital towards honing 'Hotspot' its live trending and analytics engine and making it more intuitive to offer customised solutions and real-time response mechanism for parents. Parentune has a patent over the entire technology stack used for its chat feature.
"There are low entry barriers in this segment. Parentune has grown organically by enabling real-time and meaningful advice and support through its platform. This is what gives Parentune its differentiated value proposition," said Vidushi Kamani, Venture Partner at Kae Capital, which has led the investment round.
Parentune claims a 6x growth in revenues in the past year and has 1 million verified parents on its network. The network is available to parents in the UAE, UK, Singapore and US apart from India.
It is also exploring an inorganic strategy to fuel growth but Pandey maintains that only an offering which is high on technology and offers personalization would be a good fit for the network.
The five-year-old company is looking to use the capital to fund its product and technology roadmap. Parentune is a community network for parents that offers advice and solutions in areas of nutrition, health, education, child psychology and behaviour. Parents can buy value-added services such as live chat solutions and workshops, while the company also works with MNCs to offer brand-centric solutions.
"We have raised this round of funding to continue building a highly personalised support for parents with technology, data and intelligence at the centre of Parentune's growth," said Nitin Pandey, founder, Parentune.com. The company will launch the app and website in Hindi and will follow it up with a host of other vernacular languages soon.
The network will also use a part of the capital towards honing 'Hotspot' its live trending and analytics engine and making it more intuitive to offer customised solutions and real-time response mechanism for parents. Parentune has a patent over the entire technology stack used for its chat feature.
"There are low entry barriers in this segment. Parentune has grown organically by enabling real-time and meaningful advice and support through its platform. This is what gives Parentune its differentiated value proposition," said Vidushi Kamani, Venture Partner at Kae Capital, which has led the investment round.
Parentune claims a 6x growth in revenues in the past year and has 1 million verified parents on its network. The network is available to parents in the UAE, UK, Singapore and US apart from India.
It is also exploring an inorganic strategy to fuel growth but Pandey maintains that only an offering which is high on technology and offers personalization would be a good fit for the network.
