Artificial intelligence-based marketing and SEO startup Scalenut, on Wednesday announced that it has closed a $3.1 million funding round led by Saama Capital and Amit Singhal, former senior vice president of Google and head of Google Search.
Run by Scalenut Technologies Pvt. Ltd, the startup had previously $400,000 in seed funding led by Titan Capital, First Principles VC, AngelList, Tracxn’s Abhishek Goyal, and other angel investors.
The company plans to use the funds to continue building the platform, hire talent and expand to new geographies.
Launched in early 2022, Scalenut’s software-as-a-service (SaaS) platform offers AI-generated organic content services to majorly small and medium businesses (SMBs).
The company claims that since the launch of the AI tool, more than 100,000 users have signed up. In the past six months, the startup has witnessed 10X revenue growth, it said in a press statement.
Scalenut is primarily tapping the US and the UK markets. It claims that it helps brands plan, research and create content in one-fifth the time it normally takes and reduces costs by 90%.
“The pandemic spurred rapid digitization across businesses, with a greater emphasis being placed on digital marketing,” said Scalenut’s co-founder Mayank Jain.
He pointed out that after spending a huge amount of money on paid advertising for growth, brands have now realised that it is not sustainable in the long run and therefore, there has been an increased focus on organic marketing to grow sustainably.
“In order to increase organic growth, SEO and content marketing teams juggle multiple tools for sound SEO research, content creation, optimization, and performance measurement. Not only is it inefficient, but it also leads to siloed team efforts based on broken insights and incomplete strategy. This is why most businesses struggle to scale content marketing successfully,” he added.
“With Scalenut, we aim to empower the SEO and content teams to put the paddle on their organic marketing efforts from a single platform and help businesses grow sustainably,” said Jain.
In the AI content space, Scalenut competes against the likes of Copy.ai, Heyday AI and Copysmith. However, it claims that it takes care of the entire content lifecycle, including content planning, research, writing and SEO optimization, unlike its competitors.