Immensitas Private Limited has announced the raise of $2.3 million in a Pre-Series A1 round funding co-led by Growx Ventures, Artha Venture Fund, and DSP Investment Managers Pvt. Ltd., in participation from LogX Ventures and Atrium Angels.
In July this year, the company had raised around from Artha Venture Fund (AVF) and LogX Ventures.
“The fresh funds will be used to improve and strengthen the capabilities and features of Lemnisk, Immensitas’ product offering, and to expand into new markets,” the statement said.
Lemnisk’s Customer Data Platform-led personalization and real-time marketing automation solution enables enterprises to stitch customer data across disparate data sources and activate them across multiple marketing channels and customer touchpoints.
Speaking on the funding in Immensitas, Sheetal Bahl, Partner at Growx Ventures, said, “We were very impressed with Lemnisk’s data-first strategy to build out their product. This is in stark contrast to the existing marketing technology ecosystem which took a channel-first approach and is now trying to reorganize around data.”
“Rinku, Praveen & Subra have an exciting and comprehensive vision for their Customer Data Platform. For enterprise marketers, Lemnisk brings the Swiss Army Knife needed to execute a wide variety of data-driven marketing use cases,” Aditi Kothari, DSP Investment Managers added.
Commenting on the fundraise, Anirudh A Damani, Managing Partner at Artha Venture Fund, said, “The current round marks a 10x growth in our initial investment in under 8 months, as the Lemnisk team continues to leverage new-age technologies to help marketers take charge of their data, We are glad to have doubled down on this team!”
Further speaking on the fundraise, Subra Krishnan, CEO at Lemnisk said, “This new round allows us to continue building on our ambitious vision of offering a platform that allows marketers to not just centralized customer data but also quickly act on real-time intelligence. Unlike other players who seek to rip and replace large marketing clouds, our approach is to help customers extract better outcomes from their existing investments.”