Reelo, a customer loyalty and marketing start-up, has raised $1 million from Silicon Valley-based Gokul Rajaram, an angel investor, as per a report by the Economic Times.
Ahmedabad-based Reelo will use the fund to increase its hiring across all departments, improve its machine learning and artificial intelligence capacity, and expand its current as well as global market.
Founded by siblings Prit and Parin Sanghvi in 2021, Reelo offers marketing tools that are fit for small and midsized businesses, as per the report. The co-founders said, “We’re building easy tools to empower people and enable the small guy to become big in the internet world.” As per the company, Reelo intends to “make intelligent customer engagement simple, accessible, and affordable through a technology-driven and customer-centric approach.”
Reelo enables companies to gather customer data, which is then used to automate marketing strategies and introduce loyalty programs for greater customer retention. “At Reelo, we value your time, so we don’t dump you with tons of irrelevant data. Our platform presents you with data-backed tips and recommendations to keep your customers coming back,” reads a company statement.
As per the report, Sanghvi said, “In India, everyone was just giving deals and discounts, and all these flashy discount apps and companies were making it unsustainable for small and mid-sized businesses. That’s how I decided to join hands with my brother with the idea of leveraging technology and data to empower businesses to grow.”
Along with the loyalty program, the company also offers other solutions, such as QR codes, a referral system, auto-compaigns, and more. As of now, the company operates in nine countries, including regions in the Middle East, Africa, and Southeast Asia. Sanghvi told the Economic Times that one of the key objectives of Reelo is to expand globally. Plans to enter the US market are already underway.
