Sociofy Enterprise Private Limited
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Sociofy Enterprise Private Limited - overview
Established
2017
Location
Bangalore, Karnataka, India
Primary Industry
Internet
About
Sociofy Enterprise Private Limited operates as an online platform that empowers e-commerce through a reselling model, enabling sellers to efficiently reach customers while minimizing traditional retail costs. Founded in 2017, Sociofy Enterprise Private Limited is headquartered in Bangalore, India. The company provides an innovative reselling platform that connects individual sellers and businesses to a broader market. Kunal Sinha serves as CEO and is one of the founders alongside Nilesh Padariya, Nitesh Pant, and Shekhar Sahu.
The company completed its most recent funding round, Series B, in April 2022, led by Accel, raising USD 8. 01 mn, which brought its total raised amount to USD 8. 01 mn and its current valuation to USD 79. 005 mn.
Sociofy Enterprise Private Limited, through its GlowRoad platform, facilitates e-commerce by allowing resellers to register, upload products from a curated selection or their own inventories, and leverage logistics support for nationwide delivery across India. The platform accommodates over 1 crore resellers and more than 10 crore customers, offering access to over 300 product categories. This model addresses the distribution and sales challenges faced by small to medium enterprises and individual entrepreneurs across 25,000+ pin codes in India. In 2023, Sociofy Enterprise Private Limited reported a revenue of USD 5.
35 mn, accompanied by an EBITDA of USD -11. 70 mn. The company operates on a zero-commission model, allowing suppliers to retain their profits, and facilitates direct transactions between resellers and customers, enhancing cash flow for businesses utilizing the platform. Following the acquisition by Amazon.
com, Inc. in April 2022, Sociofy Enterprise Private Limited aims to leverage this partnership for expansion into new markets and enhance its product offerings. Plans include developing additional features and services designed to increase reseller efficiency and further penetrate the Indian market. Specific timelines for these initiatives will be outlined in future strategic updates.
Current Investors
Accel, Vertex Ventures Southeast Asia & India, CDH Investments
Primary Industry
Internet
Sub Industries
Social Networking & Communication Platform, Web Applications
Website
www.glowroad.com
Verticals
E-commerce, Mobile Apps
Company Stage
Acquired
Total Amount Raised
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