Bangalore-based startup EasyEcom has raised $150,000 in angel funding from top tech industry executives Ambarish Gupta, founder and CEO of Knowlarity Communications, Aneesh Reddy, CEO of Capillary Technologies, and early-stage investment funds Bold Ventures and US-based angel fund Vona Investments.
Investment banking firm DIA Capital Advisors syndicated this fundraise from multiple investors.
“EasyEcom has the potential to join the league of successful SaaS enterprise companies. The team has great command over their market and knows how to aggressively capture majority market share without blowing millions of dollars like many other startups are seen to be doing these days,” Knowlarity’s CEO Gupta said.
Founded in February 2014 by Punit Gupta, Jitesh Advani and Swati Jindal, EasyEcom helps companies to sell on multiple platforms through analytics. The solution offers ready integrations with major e-commerce platforms such as Flipkart and Amazon, web storefront providers such as Shopify, Zepo, and StoreHippo, and logistics providers such as Delhivery and Bluedart.
“Brands love the analytics related to payouts and their margins, and that is our USP. This is a vast domain and we don’t want to build everything from scratch, and hence, we have a great partnership network including Zepo, KartRocket, Shopify, Capillary, Tally, Quickbooks, etc. The market is very favourable to us, especially with the GST rollout. Having a business model with over 70% gross margin, we should be hitting our break-even point within the next 12-15 months,” Gupta said.
The startup’s flagship product EasySoft Plus helps companies sell products on all major marketplaces from one unified dashboard. It provides visibility for full inventory on all marketplaces in real-time with centralised sync, manages aggregated businesses for multiple vendor sub-accounts from one master account, and enables smart product listings. It’s other services include historic reconciliation, invoice level audit, pending returns tracking and accounting.
The company will deploy fund to accelerate its customer acquisition efforts as well as scale its international business.