Gurugram-based sales professionals aggregator platform, Avenue Growth has raised Rs 3 crore in its Pre-Series A funding to accelerate its strategic growth and expansion plans. The startup was founded in 2017 with an intent of accelerating brands by providing on-demand on-ground salesforce solution, readily available at any time, anywhere across India.
Drawing inspiration from the West, and bringing those learnings to India to provide companies with a speedy market access, the company seems to have created a win-win situation for brands based on a zero-risk financial model. Rachit Mathur, co-founder and CEO of Avenue Growth firmly believes that expansion of sales teams across India should not be an expensive affair for companies.
The transactional model approach followed at Avenue Growth ensures that, brands only pay on closure of the sales deal. Rachit asserts, “We have raised funds from experienced professionals who understand our space really well and can add a lot of strategic value. The funding raised will primarily be used to strengthen our technology platform and for overall growth.”
The investment is led by Avtar Monga, COO, IDFC Bank and Aditya Malik, CEO Talentedge along with some leading business houses of the country.
Aditya Malik reaffirms his faith in the company and the confidence in his investment. “Customer acquisition is the core of every business, small, medium or large scale, and Avenue Growth with their highly skilled, seasoned, scalable and ready-for-action taskforce is the ideal outsourced solution for customer acquisition,” says the CEO at Talentedge.
“What was very unique and intriguing about Avenue Growth and why I invested in it was that it addresses the age-old question around investing in Sales Force without knowing the returns. Also the founding team skill set and their approach to solving the on-ground sales challenge faced by almost every company, got me excited about the opportunity,” adds Avtar Monga.
The company also aims to increase its salesforce to 100,000 freelance sales professionals (growth specialists) by mid next year. The company is currently present in over 500 locations across india working with top Indian and International brands across industries.