SaaS startup Zarget raises $6 mn in Series A funding

Chennai-based software-as-a-service (SaaS) provider Zarget has raised $6 million (Rs 40 crore) in its Series A round of funding, led by venture capital firm Sequoia Capital India.

Existing investors Accel Partners and Matrix Partners also took part in this round, the company said in a statement.

Osmnez Technologies Pvt. Ltd, which runs the conversion rate optimisation startup Zarget, plans to use the corpus raised to scale its marketing automation products, among other initiatives.

Zarget says it has an all-in-one platform that a business can use to become an effective digital marketer as well as improve the performance of its websites immediately, without hiring expensive IT personnel or learning coding.

The startup offers digital marketers three main products–A/B testing, funnel analysis and heat mapping–on a single platform. Customers can use the products via a Chrome plug-in. A/B testing helps optimise beyond login pages and can be used for improving checkout pages and various SaaS website tools without any related security vulnerabilities.

Funnel analysis capabilities within Zarget allow companies to see where visitors are dropping off from the website by configuring multiple pages together.

Heat mapping tracks where exactly visitors click on a website and then generates a report. However, as they do not track interactive design elements such as sliding banners, drop down menus and HTML files, Zarget has introduced the Chrome plug-in which sits on the client's website and gives a live report dashboard.

"We believe their marketing platform will become an essential fixture within the SMB (small and medium businesses) marketplace for many years to come," said Shailesh Lakhani, managing director at Sequoia Capital India.

In the first four months since its launch, over 1,000 customers have signed up across 10 countries, Zarget said.

Zarget was founded in 2015 by ex-Zoho employees Arvind Parthiban, Naveen Venkat and Santhosh Kumar.

In May, Accel Partners and Matrix Partners had led a $1.5 million seed funding round in Zarget. Girish Mathrubootham, CEO of cloud-based software service provider Freshdesk, too, participated in the round.