Online dating app TrulyMadly raises Rs 35 Cr from Helion Venture Partners and Kae Capital
Truly Madly Matchmakers Pvt Ltd, which owns online dating site TrulyMadly.com, has reportedly raised around Rs 35 crore in its Series A round of funding from early stage investors Helion Venture Partners and Kae Capital.
According to a Economic Times report, Ritesh Banglani from Helion Venture Partners and Sasha Mirchandani of Kae Capital will join the board of the company. The money will be used for content addition and customer acquisition. The site offers relationship related video content on YouTube and also blogs.
“It’s heartening to have marquee investors like Helion and Kae on board as it reaffirms our faith in the model and approach. They bring a lot of credibility and experience with them, which will be very useful to help us scale and grow rapidly, as we prepare to serve an ever increasing number of users,” Sachin Bhatia, Co-Founder & CEO at TrulyMadly was quoted in the report as saying.
“TrulyMadly is rightly positioned to ride the online dating boom. When we saw the engagement metrics that the team has managed month on month, we were convinced they were on to something big and that we had to be part of this story,” added Banglani.
Mirchandani from Kae Capital told the Economic Times , “The team’s focus on creating an app for singles, keeping verification and compatibility in mind, is what attracted us to invest in TrulyMadly.”
Founded in 2014 by Bhatia, Rahul Kumar and Hitesh Dhingra, the startup seeks to help urban individuals find right partners. The platform is for new-age professionals and ensures that they find their partners based on their intelligence and interests rather than based on caste, creed and family background. It claims over 35% of its user base comprises women.