AI Startup Fibr Scores $1.8 mn Fund From Investors Like Accel

Fibr, an AI-powered martech startup, raised $1.8 million (about INR 15 crore) in an seed funding round headed by Accel Venture Capital. Along with 2AM VC, angel investors Kunal Shah of CRED and Sunil Kumar, the former cofounder of Zenoti, participated in the round as well.

“We’re thrilled to support their vision of an AI-powered personalization hub that empowers marketers with greater efficiency and control to deliver superior results,” Accel partner Prayank Swaroop said in response to the fundraising.

Fibr intends to use the money to improve its technology stack and increase its clientele. The business stated in a statement that it also intended to use the money to hire more people in order to support the departments of engineering, product marketing, and sales.

Related: Gen AI startup Simplismart is All Set to Raise $7 Million from Accel

Fibr is an AI-powered platform that helps marketers lower customer acquisition costs (CAC) and increase conversion rates. It was founded in 2023 by Ankur Goyal and Pritam Roy. Pilot, the company’s primary product, assists firms in creating customized landing pages for advertisements, emails, and SMSs.

Due to Chrome modifications, customer acquisition costs (CAC) have risen since 2022 and could increase again by 2024, endangering consumer enterprises. Scalable customisation is essential for marketers to increase conversions and lower customer acquisition costs (CAC). At that point, Fibr realized these difficulties and introduced the AI-powered Personalization Hub with a pay-per-use approach starting at $10.

“No matter where a customer interacts with you, our AI platform considers everything—brands, channels, and audience data—to deliver a genuinely personalized experience. With every advertisement, email, and conversation, our flagship product, Pilot, generates a unique 1:1 landing page that increases conversions and lowers cost-per-acquisition. The finest aspect? With our flexible pricing, there are no long-term commitments—you just pay for what you use. Our concept is straightforward: technology ought to support marketing, not the other way around,” said Ankur Goyal, Fibr’s co-founder and CEO.

Another offering from the startup, Blocks, enables marketers to repurpose material into several formats. For example, they may turn a very effective Facebook ad into a blog article or Google ad. Its main target markets are India, Canada, and North America.

The fundraiser takes place at a time when more and more companies are quickly implementing GenAI to increase productivity and automate processes. More than 100 GenAI firms are presently based in India, and between 2019 and 2023, these startups raised more than $600 million, according to report data.

Fibr says it has added several clients since launching in beta earlier this year, including D2C businesses like Star Health and ACT Fibernet. Global competitors like Instapage, Unbounce, and Leadpages are among those with which Fibr competes.

Fibr is a competitor in the broader Indian AI-powered martech market, which is expected to grow to a $9.6 billion market by 2032.

With Accel’s $1.8 million investment, Fibr has achieved a major milestone that will accelerate the growth and innovation of the AI personalization platform. Fibr is well-positioned to improve its offerings and increase its market presence with plans to add elite engineers, product marketers, sales experts, and GTM specialists to its team.

Looking ahead, Fibr’s strategic goal is to remain at the forefront of customization technology by utilizing its recently hired personnel to enhance and broaden its AI capabilities. With the aim of expanding its user base and addressing a broader range of businesses, the company intends to step up its research and development efforts. Fibr wants to create a strong market presence and long-lasting relationships with its clients by bolstering its sales and GTM tactics. Fibr is well-positioned to not just improve user experiences but also establish new standards in the AI personalization space with Accel’s support and a well-defined growth strategy.