Other participating investors include early-stage investors GTMfund and Better Capital, and undisclosed angel investors from SaaS businesses such as Snowflake, Stripe, Carta, Zendesk and Superhuman.
Houseware will use the funds to grow its customer base, expand the team, and double down on alliances with partners like Snowflake to scale its offerings, the company said in a statement.
The company is actively hiring engineering and design talent in India and plans to double its headcount in 2023. Currently, it has 12 members.
“Data and metrics have come into sharp focus over the past six months across SaaS businesses with board meetings now seeking answers to the cost of customer acquisition, which lead channels are working the best, or how product usage links to churn,” founder and CEO Divyansh Saini said. “Investors are focused on solid unit economics and the path to profitability, so a lot will depend on hard-core, disciplined, top-decile business execution.”
Founded in late 2021 by Saini and fellow BITS Pilani alumnus Shubhankar Srivastava, Houseware helps clients in the SaaS industry interpret data flowing across functions to keep real-time track of metrics linked with revenue.
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Houseware won the 2022 Snowflake Startup Challenge at the Snowflake Summit in Las Vegas, competing among over 300 other startups from over 70 countries. About 30% of teams of each of its clients on average use Houseware, Saini said.
“The experience of being able to run with use cases across different segments is powerful for any scaling SaaS company looking to find their alpha (and now even more critical during this downturn),” Scott Barker, co-founder and partner at GTMFund, said.
GTMfund is an early-stage fund focused on investing in B2B SaaS companies. It comprises over 220 go-to-market executives from companies such as Snowflake, DocuSign, Okta, Salesforce, Twilio and Square, helping portfolio founders with strategy to hiring and execution.
