ProfitWheel, a global software-as-a-service (SaaS) platform, has raised Rs 10 crore in a pre-Series A round funding. This was led by Ashutosh Garg, CEO and co-founder of Eightfold AI, Amit Singhal, former SVP at Google Inc and head of Google Search and Nigel Morris, director of Admix. 

This latest round builds upon the $3 million seed round raised last year and also saw the participation of its existing investor Netcore Cloud.

The Mumbai-based enterprise will utilise the fresh funds to expand in global markets including the US. Additionally, it aims to fructify strategic hiring plans and bolster its product category. 

Talking about the latest deal, Gautam Mehra, co-founder and CEO of ProfitWheel, said, “ProfitWheel was established to empower marketers with more intelligence to help them navigate these changes and have better consumer understanding to steer their businesses. With an ambition to emerge as a multi-billion dollar enterprise, we aim to deliver best-in-class products to the market around consumer intelligence and unearth insights that fuel consumer growth and intelligence.”

While addressing their decision to invest in the company, Nigel Morris said, “ProfitWheel helps its customers release the power of their first-party data, allowing them to expand insights and unpack deep audience passions to inform and drive more effective and efficient growth strategies.”

“ProfitWheel plays a vital role in redefining how consumer intelligence is sort and can be a Philip to an organisation's growth,” Rajesh Jain, founder of Netcore Cloud, added. 

Founded by Vivek Bhargava, Aman Khanna and Gautam Mehra, ProfitWheel is known for unpacking actionable insights on first-party data. The company claims that its services are being used by Fortune 100 enterprises to take decisions on media buying, content creation, creative strategy and influencer selection across 40-plus countries.