California-based Scalenut, a startup that operates an AI-powered SEO and content marketing platform, has raised $3.1 million in a funding round led by Saama Capital & Amit Singhal (Former Senior VP of Google and a Philanthropist).
Previously, the startup had raised $400,000 in seed funding led by Titan Capital, First Principles VC, AngelList, Abhishek Goyal, and other leading angel investors. According to the company’s statement, Scalenut aims to utilize the raised capital to continue building the platform, hire talent, and expand its presence into new geographies.
Founded in early 2022 by Mayank Jain, Gaurav Goyal, and Saurabh Wadhawan, the startup helps businesses and brands plan, research, and create content using deep learning and artificial intelligence (AI). Currently, it focuses on the US and UK markets.
Unlike its competitors, Scalenuit said that it takes care of the entire content lifecycle, including content planning, research, writing, and SEO optimization.
“The pandemic spurred rapid digitisation across businesses, with a greater emphasis being placed on digital marketing. However, after spending a huge amount of money on paid advertising for growth, they realised that it is not sustainable in the long run and therefore, there has been an increased focus on organic marketing to grow sustainably,” said Mayank Jain.
“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.
The startup claims to have witnessed 10x revenue growth in the past six months with over 100,000 users using its platform. It now aims to have an ARR of $10 Mn in the next couple of years.
Scalenut said that the current market is fragmented and does not offer much in terms of scaling content marketing, and added that it would be launching new products to complete the entire content cycle.