nGrow, YC-backed No-Code Push Notification Solution Closes $2.3M Series Seed Funding
*NEW YORK, NY / ACCESSWIRE / December 21, 2022 / *nGrow.ai
NGrow.ai, the developer of an AI-powered push notification solution, announced it has closed a $2.3 million Series Seed funding round to support its goal of disrupting engagement marketing approaches.
Apple Core Holdings led the round, which included investments from Y Combinator, IrrvrntVC, Baincap, and U.S.-based angel investors.
The solution helps mobile apps to improve how they interact with users, enabling them to multiply their revenue. Disruptive technology by nGrow uses machine learning to optimize sending time, text type, and dynamic targeting selection of push notifications. The integration of this solution doesn't require coding.
"We are the only solution on the market with no code integration, so there are no additional costs for the customer," said Alex Sergeev, co-founder and CEO. "Adding nGrow to the project takes no more than one work day and does not require store publishing."
"Y Combinator's application process attracts thousands of applicants for each investment ‘cycle,' and only about 2 percent of the applicants are accepted.," says Michael Seibel, group partner and managing director of YC's early stage. While for some startups it takes several attempts to be selected for the acceleration program, nGrow was accepted with their first application.
Since graduating from Y Combinator in April 2022, the company has grown to 51% and maintained a 20% month-over-month growth rate. The platform processed 320 million users from the United States, India, Europe, and Asia.
The product team also developed smart algorithms to monitor metrics in connected analytics, so they push notifications at the right time and sequence. In this way, they can get certain metrics to grow. The startup's founders claim this increases by more than 65% compared to the rigid schedule that a real person sets in conventional systems.
"I invested in nGrow because I saw a world-class team, led by Alex Sergeev, building a much-needed product offering in a large market," says Andrew Gluck, general partner of irrvrntVC. "Alex has shown himself to be determined and ambitious yet humble. I am happy with their progress but even more excited about what's to come!"
With the new round of funding, the company aims to conquer big mobile game publishers and middle enterprise businesses in the e-commerce/mobile games/utility/food delivery services. According to Sergeev, those are too expensive and time-consuming to integrate with multichannel engagement platforms.
Also, nGrow plans to complete the development of the AI copywriting service, allowing a generation of highly converting texts for push notifications individually for each application. This way, nGrow plans to close the cycle of working with communication through push notifications from data to the final sending of text generated based on data from the application.
Contact - *regina@smartsette.com*
About
nGrow's is a company started by Alex Sergeev and Marat Zhanabekov in 2021. The goal of the team is to apply the benefits of modern machine learning solutions to change the marketing solutions market. It started with the idea of boosting revenue and retention for mobile apps with AI integrated push notifications using a no-code approach.
*SOURCE:* nGrow.ai
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