Unbxd Inc., which provides e-commerce product discovery software services, has raised an undisclosed amount of capital in its Series B round of funding, the firm said on Thursday.
The funding was led by entities advised and managed by Nirvana Venture Advisors, along with existing investors including IDG Ventures, Inventus Capital, and Indian Angel Network. It had raised $2 million in a Series A in 2013.
Unbxd, founded in 2011 by Pavan Sondur and Prashant Kumar, will use the funds to improve its product, accelerate sales growth and expand its sales and marketing team. It plans to increase its employee count to more than 100 people over the three months from 55 now.
Unbxd helps e-commerce companies by providing them with search, navigation, product recommendations, merchandizing and analytics solutions. It helps companies solve search and other queries for almost 200 million e-commerce visitors in a day. Eighty-five percent of the companies Unbxd services are outside India, primarily North America.
“Our relevancy engine and machine learning models have consistently delivered value to some of the biggest eCommerce sites in the world. Had Unbxd been a standalone e-commerce site, we would be the biggest e-commerce company in India in terms of volume of traffic and GMV served,” said Prashant Kumar.
This article was first published on Livemint.com