A startup called PickMyWork, which helps digital businesses get end users, has raised $1 million in a seed round, led by SOSV’s Orbit Startups. A wide range of prestigious investors, including Soonicorn Ventures, Upaya Social Ventures, Blume Founders Fund, Venture Catalyst, Mumbai Angels, 888 Network, Imperier Holdings, and We Founder Circle, also participated in the round.
The round also included investments from notable CXOs from the startup ecosystem, including Prajakt Deolasee, CTO of Turtlemint, Gaurav Chopra, CEO of IndiaLends, and Akash Gupta, CEO of Zypp Electric.
The company intends to utilise the money to expand its network of representatives across India. A portion of the funds obtained will also be used to improve the distribution system’s technological foundation, which will boost efficiency even more.
“With new internet businesses launching every day there is a dire need for a strong distribution pillar to catalyse their growth. It becomes an impossible task for these businesses to penetrate the tier 2 and tier 3 markets where there is still a grave need for assistance as these geographies gradually adapt to the digital world. PickMyWork is bridging this gap for various businesses, while simultaneously creating income sources. We have seen the model succeed, which is also reflecting in our month-on-month growth rate of 30 per cent. We are glad that our investors are here to guide us as we move towards our ambitious targets,” said Vidharathi Beddireddy, CEO, PickMyWork.
PickMyWork, a gig marketplace founded in 2019 by Kajal Malik, Vidyarthi Badireddy, and Utsav Bhattacharjee, assists digital businesses in acquiring end customers for their goods through a Pay-per-task model.
“PickMyWork is solving the biggest challenge in terms of customer acquisition for international corporations and high-growth startups alike, all while helping India’s gig workers upskill and create the future they want. We are proud to be a part of their mission as the team goes on to empower India’s entrepreneurs and shape the course of technological advancement in tier 2 cities,” said William Bao Bean, Managing Director of Orbit Startups.
As a part of its network, PickMyWork currently employs 3,00000 gig workers and provides them with extra income-generating options.
The Gurugram-based company offers digital businesses and merchants a pay-per-sale approach for consumer acquisition. This might enable businesses that focus on the internet to lower their customer acquisition costs (CAC).