Proparents Solutions Pvt. Ltd, which runs the Parentune.com social networking platform for parents, has raised an undisclosed amount in the second round of funding from existing investor Kae Capital Management (P) Ltd, with participation by the Singapore-based Segnel Ventures Pte Ltd.
The capital raised would be utilized to upgrade technology and launch the network in Hindi and other languages. The start-up had first secured $500,000 in funding in 2014 from early-stage venture capital firm Kae Capital.
“We have raised this round of funding to continue building a highly personalized support (platform) for parents, with technology, data, and intelligence at the centre of Parentune’s scale-up,” said Nitin Pandey, founder of Parentune.com.
Founded inNovember 2012, Parentune is an online community of parents for real-time advice and support through its website, mobile site, and app.
Parentune helps parents connect with like-minded parents, access useful applications, find relevant information validated by fellow parents and experts.
The start-up claims each parent on Parentune is verified and has real-time access to personalized content and support relevant to their child’s age.
Parentune claims more than 3 million sessions take place every month across its website, mobile site, and app. Parentune recently also crossed the one million verified parents milestone.
It also claims that the Parentune Mobile App is growing at a pace of over 50% month-on-month, mainly through parents’ referrals and word-of-mouth on social media.
The app is spearheading the company’s growth and has a user engagement of 9-10 minutes per session.
Parentune started out with a team of three and now has 13 members, including its chief technology officer Venugopal Pottu, who joined the company in 2014.
Source: Mint