Matrix Partners India and Accel Partners lead investment in Zarget
Walnut, CA - May 11, 2016: Matrix Partners India and Accel Partners today announced that they have co-led a $1.5 million first institutional round of funding for Zarget, a SaaS-based Conversion Rate Optimization company. The round also saw participation from angel investors such as Girish Mathrubootham, CEO of Freshdesk.
The Zarget platform is a much needed solution for firms that previously used multiple software products to complete A/B testing, funnel analysis, and heatmaps. Zarget provides all of these tools in one platform with the added simplicity of a Chrome plugin, so users no longer need to waste time and valuable resources loading websites into an application.
The Zarget platform is built for ecommerce and SaaS companies and intended for use by marketers, product managers and web designers who now have a single tool to manage site content and performance through a simple Chrome plugin. Zarget was founded in 2015 by three ex-Zoho employees Arvind Parthiban, Naveen Venkat and Santhosh Kumar.
The first tool to optimize beyond login pages, Zarget is ideal for improving checkout pages and various SaaS website tools without any of the related security vulnerabilities. Heatmap support for interactive design elements such as sliding banners, drop-down menus and HTML5 moving elements is a core Zarget feature. This allows users to track visitors in real time, instead of the “snapshot” approach used by competitors that cannot capture visitor activities on dynamic elements. Funnel analysis capabilities within Zarget allow companies to see where visitors are dropping off from the website by configuring multiple pages together.
“Zarget represents an evolutionary leap in terms of how companies can optimize conversions and see deeper into site performance.” said Arvind Parthiban, co-founder & CEO of Zarget. “Consider the slow advances in our industry compared to the music industry, which moved quickly from records to CDs on to iPods and streaming. Our Chrome plugin is the next step and represents the future of site optimization as we’ve made it seamless and more efficient through the combination of several feature sets. We anticipate fast adoption as the need and budgeting for conversion rate optimization increases globally. And ecommerce and SaaS firms will immediately realize the benefits of a single tool for real-time heatmapping combined with A/B and funnel testing.” added Parthiban.
“Zarget has developed a true product innovation in the field of conversion rate optimization and aims to help companies enhance their customer experience online. We are very impressed with the founding team’s prior experience in building and scaling products globally and it is our privilege to partner with Arvind, Naveen and Santhosh to help them realize their vision.” said Tarun Davda, Managing Director, Matrix India.
“The Zarget platform provides businesses with a full-featured, easy-to-use conversion rate optimization tool that completely disrupts the existing single-feature solution market.” said Anand Daniel, Partner, Accel Partners. “We are very impressed by their experienced management team and technical/product expertise and believe they will become a mainstay in the field of conversion rate optimization. Zarget is essentially helping companies refine and perfect their customer experience, which is key for any firm that wants to be successful in this day and age.” added Daniel.
Zarget is a SaaS-based conversion rate optimization company that provides comprehensive solutions for small and medium sized businesses. The Zarget platform is a SaaS tool with a Chrome plugin capability that features include heatmapping, funnel analysis, A/B testing, split URL testing, live data reporting, and optimization. For more information, visit www.zarget.com or learn more on Facebook at www.facebook.com/ZargetHQ, or on Twitter @ZargetHQ
About Matrix Partners India:
Matrix Partners India is an investment firm with INR 4,500 crore under management. The firm invests in companies targeting the Indian consumer market at the seed, early and early growth stages. The firm has invested in several market leading companies in the consumer technology space including Ola (local transportation), Quikr (online classifieds), Practo (healthcare app), Stayzilla (short term accommodations marketplace), LimeRoad (mobile social commerce marketplace), Dailyhunt (mobile local language platform), Housejoy (local services marketplace), MSwipe (mobile POS) and Belong (recruitment + big-data platform) among others. Matrix Partners has a global network of funds investing in the US, China and India with US $4 billion under management. Further information is available at www.matrixpartners.in
Accel is a leading early and growth-stage venture capital firm powering a global community of entrepreneurs. Accel backs entrepreneurs who have what it takes to build a world-class, category-defining business. Founded in 1983, Accel brings more than three decades of experience building and supporting hundreds of companies. Accel has backed a number of iconic global platforms, including Atlassian, Braintree, BookMyShow, Cloudera, Dropbox, Etsy, Facebook, Flipkart, FreshDesk, MuSigma, Myntra, Ola-TaxiForSure, Perfint, Slack, Spotify and others. For more information please visit us at www.accel.com, or on facebook.com/accel
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