TrulyMadley Matchmakers Private Limited, the parent company of dating app TrulyMadley, said on Monday that it has raised a pre-series A funding round of Rs 8.1 crore through Angelist, Inflection Point Ventures and The Chennai Angels.
Some of India’s leading entrepreneurs and startups like Unacademy, Haptik, Innov8, AirBnB, and Times Internet have invested in the CXO. Current investors from Trulymedley also participated in this round.
The New Delhi-based startup said it would use the funds to increase the size and operations of its team and also enhance its technology.
TrulyMadley, launched in 2014, introduced Snehil Khanor, the founding member of the startup, as the new co-founder and CEO in 2019. Snehil founded Findayahan first and sold it to Omidyar-backed Zimber and it was later acquired by Quikr. Amit Gupta, who previously co-founded Feldhomes and sold it to Y Combinator-backed Jiffy Homes, joined TrulyMadley in April 2019 as co-founder and CTO.
The new team also announced a strategic shift in its target audience with a renewed focus on singles in search of serious, long-term relationships. TrulyMedley has since seen a tripling of its monthly revenue and new monthly user additions.
Snehil said,
“We are thrilled to receive a resounding support and a distinguished list of investors, along with many of India’s leading entrepreneurs and startup executives, as we embark on an entirely new journey with TrulyMadley.”
He added, “We have a new team and a new strategic direction that has already started yielding results, making us firmly on the road to reclaim the status of India’s most loved serious dating app.” is.”
TrulyMadly is a dating app for mature adults, who are 25 years of age or older and are looking for long-term and meaningful relationships. The app has focused on ‘Find Your Forever’ through its specialized tools to focus on verification and security of its users and help individuals.
The syndicate lead of Angelist, Abhishek Shah said,
“Trulymedley has emerged as a platform that perfectly matches the tastes and tastes of contemporary young Indians when it comes to finding their partners. Continuing with their welcome emphasis on user security and privacy, the team has given much thought behind the new situation. “
“His rapid growth in users and revenue in the last two years gives us confidence that TrulyMadley is on the way to something bigger,” said Abhishek.
According to Trulymedley’s former CEO, Sachin Bhatia, India’s society and dating culture has evolved considerably over the years and Trulymedley is now ready to leap into the next stage of development.
Sachin said, “I am proud to stand with the new team led by Snehil and Amit and believe that they have TruelMadley to make them the most preferred platform in search of singles and long-term relationships.” Sachin remains a key investor behind the new team with participation in the latest round.