Fibr, an innovative AI-powered personalization platform, has successfully raised $1.8 million in a funding round led by Accel, a renowned venture capital firm. The funding round also saw contributions from 2am VC and notable angel investors like Kunal Shah, the founder of Cred, and Sunil Kumar, the former cofounder of Zenoti.
Previous Funding and Future Plans
Before this funding round, Fibr secured $2 million in seed funding in February 2023. With the new capital, the startup plans to enhance its AI personalization platform, expand its customer base, and recruit new talent. This recruitment drive will focus on hiring engineers, product marketers, and sales and go-to-market (GTM) experts.
Fibr’s Product Offerings
Founded in January 2023 by Ankur Goyal and Pritam Roy, Fibr offers a flagship product called Pilot. Pilot is designed to improve conversion rates by creating personalized landing pages for every ad, email, SMS, notification, or other communication. Goyal emphasized that most current personalization tools are outdated, only excelling in one area, such as web, ads, or email, and lack comprehensive personalization capabilities.
Fibr is also developing a second product called Blocks, currently in its beta version. Blocks will assist marketers in scaling their content across various formats. For instance, it can convert a high-performing Facebook ad into a blog post, Google ad, or social media post.
Serving High-Profile Clients
Fibr caters to lead-generation clients in sectors like insurance, broadband, home improvement, and consumer services. Some of its high-profile clients include ACT Fibernet and Star Health. The startup is primarily focused on markets in the US, Canada, and India, with plans to expand into Europe. Goyal mentioned that the US is their major focus, but they also see significant potential in Europe due to their alignment with general data protection regulation (GDPR).
Market Impact and Vision
Fibr’s approach to creating a personalized landing page for every ad could revolutionize the ad ecosystem for consumer companies, especially in light of customer acquisition cost (CAC) challenges due to privacy policies and cookie deprecation. Fibr’s affordable sachet pricing model, where users only pay for usage, disrupts traditional SaaS pricing and makes it accessible for all marketers.
Prayank Swaroop, Partner at Accel, expressed confidence in Fibr’s potential: “We believe Fibr’s landing page for every ad proposition could be a gamechanger in the ad ecosystem for consumer companies, especially with customer acquisition cost (CAC) challenges due to privacy policies and cookie deprecation. Fibr’s affordable sachet pricing model, where users only pay for usage, disrupts traditional SaaS pricing, making it accessible for all marketers.”
Fibr’s recent funding round, led by Accel, highlights the growing interest in AI-powered personalization platforms. With plans to enhance its platform, expand its customer base, and hire new talent, Fibr is well-positioned to make a significant impact on the marketing and advertising industries. As the company continues to innovate and expand, it aims to provide marketers with advanced tools to improve conversion rates and streamline their advertising efforts.
