
Sequoia supports India customer feedback platform
Sequoia Capital has led a $5 million round of funding for Akosha, an Indian online consumer feedback platform. This follows a $200,000 seed stage investment by the VC firm in 2011.
Set up in 2010 by former Linklaters attorney Ankur Singla, Akosha provides a platform for handling customer complaints on behalf of several clients across sectors such as telecom, consumer appliances, mobile, insurance, banking and e-commerce.
The firm currently claims to field around 75,000 complaints every month. As of June this year Akosha has dealt with over 790,000 customer service issues to date.
The company's clients include Voltas, Aircel, Snapdeal, Micromax and Groupon. Akosha claims that its consumer user-base has grown over 20-fold in around two years and now more than 100 brands use the platform weekly without any marketing being carried out to date.
According to a release, the funding will be used to make investments in technology and to expand the company's enterprise solutions suite.
"Akosha is creating a new business model, where consumers can use Akosha to connect with all brands using a single platform in a private and mutually beneficial manner," said Shailendra Singh, managing director with Sequoia. "We're delighted to be backing Ankur to create a pioneering business model and company."
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