CoffeeMug.ai Unlocking Business Opportunities Via 1:1 Conversations
While speaking about the expansion plans of the company going forward, Co-founder Abhishek Sharma mentions, "We are looking to expand to 1 Million member base in the next 18 months. Also, the focus will be on expanding in the US and Singapore market apart from India"
CoffeeMug.ai was co-founded by veteran entrepreneurs Dipti Tandon, Abhishek Sharma and Nikhil Sarup. The co-founders have been together for decades and known each other. CoffeeMug.ai Connects curated list of members 1:1 for their exploratory conversations in line with their professional objectives like career opportunities, raise funding and meeting like-minded professionals.
1. What is the concept behind CoffeeMug.ai? How does AI work in the platform?
The company was launched in March 2020 with the idea to connect people face to face over a cup of coffee at a coffee shop. However, within 20 days of the launch, the world was hit by COVID and the subsequent lockdown. We switched to complete virtual meetings on the platform itself.
Ever since the pivot, we have grown at an exceptional pace and decided to stick to this format. We offer a 1-1 interaction platform for professionals, business leaders, investors, and entrepreneurs. We are targeting the top of the funnel of the global professional ecosystem.
CoffeeMug.ai is a global, 1:1 exploratory conversation platform connecting entrepreneurs, investors, and business leaders. Our vision is to empower our curated global community to form new connections that unlock real business opportunities for them. Our AI-based algorithms behind the backdrop connect weekly, based on the member profile score, objectives, interest, feedback from previous meetings, etc. This ensures highly contextualized, warm introductions leading to high interaction rates.
We at CoffeeMug.ai take pride in building the following AI-based algorithms:
a) Curated Platform powered by our AI-based gatekeeper algorithm: CoffeeMug.ai is a curated
platform for entrepreneurs, investors, and business leaders. Our "AI-based Gatekeeper algorithm" applies necessary filtration criteria and decides whether to approve the profile on a real-time basis. This helps us maintain the required quality of profiles on the platform and allow us to enhance the overall experience for our community.
b) AI-based Matchmaking algorithm: At the core of the platform lies matchmaking and our unique AI-based matchmaking algorithm takes into consideration multiple factors like the professional goal, interest, availability, feedback from previous meetings and the overall professional journey basis which the matchmaking is done. Our unique algorithm does some amazing 1:1 matches between our members on a weekly basis.
Today, we have 250K Members and have facilitated 430K exploratory conversations.
2. Tell us about the 3 different verticals of the platform?
The first bucket is the jobs bucket, which means you're either looking to hire somebody or open for a career opportunity for yourself.
The second bucket is the investment bucket, which means you're looking to invest in a start-up or if you are a founder you looking to raise money for your startup.
The third bucket is connecting and meeting interesting people to expand your professional network.
Recently CoffeeMug.ai extends its ambit beyond professional networking and launches a Source-to-hire talent intelligence platform powered by the open web, an AI-powered matchmaking engine, and deep insights from the CoffeeMug.ai community. CoffeeMug has onboarded more than 35 clients across India, US and Singapore and is working closely with them in addressing their senior hiring challenges. CoffeeMug Talent Solutions counts Lenskart, Licious, Gaana, Haptik, Klub, Sugarbox, Gameskraft amongst its marquee clients.
3. How much leadership hiring has been done through the platform? Can you share a few names if possible?
We have placed 40+ senior candidates in this FY from the CoffeeMug platform. A few prominent names are Sandeep Lodha, CEO, Gaana, Ahshad Jussawala, VP and Business Head, Haptik; Ajay Singh, Chief Growth Officer, POSist and 4. What is the idea behind CoffeeMug.ai’s recent launch of Talent Solution Platform? How is the response you have received for it till date?
Finding the right talent has become highly challenging for leaders during these unprecedented times, especially for a senior role. Since we launched CoffeeMug.ai, our members highlighted the challenges they face in finding the right role for themselves, and we realized how big this opportunity is. By launching Talent Solutions, we have decided to address it. The best part is that we are starting with 35+ clients across India, the US, and Singapore, demonstrating that this is a global problem statement. Through CoffeeMug Talent Solutions, the company has extended its ambit beyond professional networking, making senior-level hiring seamless and hassle-free for its members. We will continue devising and delivering more innovative solutions for corporates to enhance their overall networking and hiring processes and add unmatched value to our clients.
The talent search platform scans millions of public profiles available on the internet and layers them with deep aspirational and behavioral insights from CoffeeMug's data pool to drive senior-level hiring for its clientele. The company has already onboarded 35 clients across India, the US, and Singapore. The list includes marquee brands like Lenskart, Licious, Gaana, Haptik, Klub, Sugarbox, and Gameskraft, among others. Through this platform, CoffeeMug.ai strives to cater to around 150 clients and drive revenue of USD 3 million by the end of FY 2022-23. The company also plans to strengthen the platform by onboarding more clients especially in the US market in the next few months.
5. What makes CoffeeMug.ai stand out from platforms like Linkedin for professional Networking?
While LinkedIn plays a significant role in bringing professionals from across the globe together on one platform, it does not focus on members' professional hopes, aspirations, and professional objectives. n LinkedIn, the members must do the heavy lifting of identifying and reaching out to the potential connections. Whereas, CoffeeMug focuses on professional objectives and the AI-based Matchmaking engine to connect the members and does the heavy-lifting at its end.
6. Future roadmap for CoffeeMug.ai
CoffeeMug.ai is looking to expand to 1 Million member base in the next 18 months. Also, the focus will be in expanding in the US and SIngapore market apart from India. On the CoffeeMug Talent Solutions, we are targeting to add 150+ clients across the US, India and Singapore market. Recently we have onboarded clients across UAE and Singapore for CoffeeMug Talent Solutions clearly demonstrating the true global nature of the problem statement.
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