Gurugram-based startup Avenue Growth that aggregates freelance sales professionals on its platform, has raised Rs 3 crore in its Pre-Series A funding round. The current funding round is led by Avtar Monga, COO, IDFC Bank and Aditya Malik, CEO Talentedge. Besides, some leading business houses of the country also participated in this round of funding.
“Customer acquisition is the core of every business, small, medium or large scale, and Avenue Growth with their highly skilled, seasoned, scalable and ready-for-action taskforce is the ideal outsourced solution for customer acquisition,” says Aditya Malik, the CEO of Talentedge.
Avenue Growth was founded in 2017 by Mathur and Dilkash Malhotra with an intent of accelerating brands by providing on-demand, on-ground salesforce solution across India. The company works on ‘sales-as-a-service’ business model, onboard qualified freelance sales professionals and trains them with the required skills. Subsequently, it connects the right specialists with the brands based on their requirements and needs. The company generates revenue through commissions per sale that happens through their platform.
The transactional model approach followed at Avenue Growth ensures that brands only pay on the closure of the sales deal. Rachit asserts, “We have raised funds from experienced professionals who understand our space really well and can add a lot of strategic value. The funding raised will primarily be used to strengthen our technology platform and for overall growth.”
Operational in more than 500 cities, Avenue Growth currently claims to have more than 7,500 sales professionals and more than 40 brands on its platform. The company hopes to onboard more than 1 lakh sales professionals by mid-2019.
Avenue Growth plans to use the current raised capital to accelerate its strategic growth and market expansion. The company had previously raised funding from Brand Capital and GSV labs from Silicon Valley.