Looppanel announces $1 mn pre-Seed round led by Speciale Invest, others
The funding raised by Looppanel will be used to grow their team as they add new capabilities to their product and expand their presence in key target markets across the US and EU./ Representative image |
Looppanel, which allows product & design teams to analyze and share insights from Zoom-based user interviews in minutes, announced a $1 million pre-Seed round of funding led by Speciale Invest.
Additional funding is coming from First Cheque, angel investors and a grant from Sequoia Capital India as part of the Sequoia Spark program.
The funding raised by Looppanel will be used to grow their team as they add new capabilities to their product and expand their presence in key target markets across the US and EU.
Founded in 2021, Looppanel was born from personal frustration - Kritika and Akash were running hundreds of user interviews at their previous startup Atlan, but the process turned very slow and painful quickly.
"We realized there was a big challenge for anyone building digital products today - in the age of Canva and Miro, if users don't see the value of a product immediately they'll take their business elsewhere. But how do you build a product users value and love when it's so hard to run interviews & test your prototypes with them?" said Kritika, CEO & Co-founder of Looppanel.
It is a product built for product managers and designers to rapidly test their assumptions and prototypes with their own customers. The product takes the unique approach of building a User Research solution for novice users - PMs and Designers who don't have the time or know-how to conduct research effectively on their own - the way that Canva helped non-designers create beautiful designs.
"Product Led Growth (PLG) engines have put product distribution on steroids and led to a proliferation of tools (created over $200 Bn in market value, said" Vishesh Rajaram, Managing Partner, Speciale Invest.
"It was clear that (Looppanel) was one of the first tools made for doing true qualitative research for B2B. It was very easy to get my team on board with using it," said Austin Brown, UX Research Team Lead at PandaDoc.
(With inputs from IANS)
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