Community management platform Convosight has raised $4 million in its pre-Series A funding from IvyCap Ventures and Sequoia Capital’s accelerator fund Surge.
The company plans to use the funds raised to strengthen its team across product and marketing functions as well as invest further to improve its technology and data science capabilities. As part of this investment, IvyCap Ventures founder and managing partner Vikram Gupta will join Convosight’s board.
Launched in October 2019 by Tamanna Dhamija, Tarun Dhamija, and Kartik Bansal, Convosight helps admins and brands to create, moderate, grow and leverage communities by using data analytics and machine learning.
It currently provides a product suite that enables Facebook group admins to track growth trends and conversation insights, control spam, and manage content through smart recommendations.
“There are half a billion engaged users across online communities in Facebook today, created by individuals, influencers, or businesses around common interests. Now more than ever, community admins need these tools to build and sustain meaningful communities and businesses,” said Convosight chief executive Tamanna Dhamija.
The startup claims that its product is being used by more than 2,500 communities with over 30 million members across the world. This includes Fortune 100 companies such as Nestle, J&J, Reckitt Benckiser, P&G, and Abbott.
“We believe that there is immense value in the application of data analytics and machine learning for managing and growing social media communities. The uniqueness and inherent stickiness of the Convosight platform with its top tier customers made us very intrigued and we believe this is going to change the way users are engaged within online communities,” said Gupta.