Chennai, NFAPost: TrulMadly Matchmakers, the parent company of dating app TrulyMadly, 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 CXOs from startups like Unacademy, Haptik, Innov8, AirBnB and Times Internet, among others, have invested in this round. TrulyMadly’s existing investors also participated in this round.
The startup said it will use the funds to scale up its team size and operations and also enhance its technology. Launched in 2014, TrulyMadly had in 2019 elevated Snehil Khanor, a founding member of the startup, as the new Co-Founder and CEO. Snehil earlier founded and sold Find Yaha to Omidar-backed Zimmber, which later got acquired by Quickr. Amit Gupta, who earlier co-founded FellaHomes and sold it to Y combinator backed Ziffy Homes, joined TrulyMadly as Co-Founder and CTO in April 2019.
The new team also announced a strategic shift in its target audience with a renewed focus on singles looking for serious, long-term relationships. TrulyMadly has since seen tripling of its monthly revenues and new monthly user additions.
“We are thrilled to receive an overwhelming support and backing from a distinguished list of investors, with several of India’s leading entrepreneurs and startup executives coming on board as we undertake a completely new journey with TrulyMadly,” Snehil said.
“We have a new team and a new strategic direction that has already started yielding results, putting us firmly on the road to reclaiming the position of India’s most loved serious dating app,” he added.
TrulyMadly is a dating app for mature adults, who are 25 years or older and are seeking long-term and meaningful relationships. It prides itself in having a stringent approval process making it the safest and most trusted dating app of the country. With a stringent focus on verification and security of its users’ and helping individuals “Find your Forever” through a proprietary Compatibility Assessment Tool, the app has clicked successfully with users, TrulyMadly said.
“TrulyMadly has emerged as a platform that is fully aligned with the taste and choices of the contemporary young Indians when it comes to finding their partners. The team has given a lot of thought behind the new positioning while continuing with their welcome emphasis on user security and privacy. Their stellar growth in users and revenues over the last two years makes us believe that TrulyMadly is on to something big,” said AngelList Syndicate Lead Abhishek Shah.
“India’s society and dating culture has significantly evolved over the last few years and TrulyMadly is now ready to leapfrog to the next stage of growth. I am proud to stand behind the new team led by Snehil and Amit and strongly believe that they have what it takes to make TrulyMadly the most preferred platform for singles looking for a meaningful and long-term relationship,” said TrulyMadly former CEO Sachin Bhatia. Sachin continues to be a major investor behind the new team with participation in the latest round.
TrulyMadly has raised Pre-Series A funding from:
- Aakrit Vaish, Founder of Haptik (acquired by Reliance Jio in 2019)
- Abhishek Shah, Founder of ConversionX, Fetise, DealsNyou (Lead AngelList Syndicate)
- Amanpreet Bajaj, India Head of AirBnB
- Ashok Chandran, CEO of Schindler India
- Bharanidharan V, Founder of 91Mobiles
- Dinesh Godara, VP of Unacademy
- Gaurav Munjal, Founder of Unacademy
- Manish Bhatia, Ex-CTO at Amazon Pay
- Manu Midha, Head of OYO Arabia, formerly of Souq, Infibeam
- Miten Sampat, Chief Strategy Officer at Times Internet Limited
- Rishabh Malik, Ex-Cofounder & COO of Droom
- Ritesh Malik, Founder of Innov8 (acquired by OYO)
- Rohit Chanana, Sarcha Advisors
- Roma Priya, Founder of Burgeon Law
- Roman Saini, Founder of Unacademy
- Sachin Uppal, Ex-CMO of RummyCircle
- Saket Agarwal, Ex-CEO Spice Digital Limited
- Sandeep Singh, Ex-VP of Bira91 Beer, Ex-Founder of FreeCultr
- Shehzad Azad, Ex-COO Spice Digital Limited
- Shobhit Banga, Founder of Josh Talks
- Supriya Paul, Founder of Josh Talks
- Vinay Singhal, Founder of WittyFeed, Stage