Sheroes, the women’s community platform, has raised an undisclosed sum of fresh funding from venture capital firm Leo Capital and angel investor Anand Chandrasekaran, a top company executive told TechCircle.
Existing investors Lumis Partners, Raghav Bahl and Ritu Kapur’s Quintillion Media and the HR Fund also participated in the round, Sairee Chahal, founder of Sheroes, said.
The firm will use the capital to strengthen its platform’s vernacular reach, Chahal told TechCircle.
“Our members are a cross-section of women on the Internet—homemakers, professionals, gig workers, entrepreneurs and students from diverse geographies. We are also seeing an influx of first-generation digital users and a growing vernacular audience. The Sheroes app has received a phenomenal response,” she explained.
The company claims that it has 5 million members and the Sheroes app has crossed one million downloads in January this year.
Operated by Delhi-based Applied Life Pvt. Ltd, Sheroes was launched in January 2014 to provide companies support for their workforce needs and to help them build women-centric channels.
The company has an enterprise offering that operates products like SHE—a platform to prevent sexual harassment at work and a managed remote solutions programme.
“Sheroes has been able to take a platform approach for a very large, global demographic of users. Leo Capital was attracted by the combination of a deeply technical product and a strong brand that is easy to connect to,” said Rajul Garg, founder and managing partner at the investment firm, in a statement.
In August 2016, Sheroes had raised Rs 12 crore in a round of funding led by Gurugram-based investment firm Lumis Partners. The HR Fund, angel investor Rajul Garg (in his personal capacity) and Quintillion Media, had also participated in the round.
In 2015, it had secured angel funding.
The company has also made a number of acquisitions. Last year, it bought child healthcare startup Babygogo, relationship and sexual health counselling platform LoveDoctor.in and online career restart platform Women Restart.
