SaaS startup UserStudy has raised $1 million (INR 8 Cr) in its pre-seed funding round led by Better Capital. Sparrow VC, Maninder Gulati, Good Capital, Gojek, Microsoft, Meta, Oyo, FlexiLoans and UpGrad also participated in the round.
UserStudy will use the new funding to develop its technology platform and hire talent.
Founded in 2022 by IIT Bombay alumni – Anshul Divakar and Nitin Matiyali, UserStudy is a comprehensive research platform. It helps organizations gain insight into their video and audio channels. This knowledge is later consolidated and stored in one place.
UserStudy also helps product teams (technical organizations) recruit suitable candidates by providing customized video and audio interviews and tests.
In the SaaS industry, the startup faces competition from the likes of Toplyne, BarRaiser, OSlash and WebEngage.
Anshul Divakar, Founder of UserStudy, said, “Our vision is to create a comprehensive SaaS for all the research needs of product teams around the world. While product and design leaders understand the importance of user research, most teams can’t do enough because conducting research is difficult and time-consuming. With UserStudy, conducting research is easy.”
Vaibhav Domkundwar, Founder of Better Capital, said, “Our view is that user research is too complex and laborious. As a result, products and experiences suffer at scale. However, UserStudy fixes this by making user research 10x easier for product teams around the world.”
According to the report, India’s SaaS market received investments of up to USD 4.5 billion in 2021, up 170% from 2020. Furthermore, the sector is projected to grow to a USD 30 billion markets by 2025, representing 9% of the international SaaS market until 2025.