UXR Technologies Private Limited, which runs software-as-a-service (SaaS) startup UserStudy, on Wednesday said it has secured pre-seed funding of $1 million (around Rs 7.5 crore) led by Better Capital.
The round also saw participation from Sparrow VC, Maninder Gulati (global chief strategy officer at Oyo), and Good Capital, with angel investors including Gojek, Microsoft, Meta, Oyo, FlexiLoans, and UpGrad.
The Bengaluru-based firm plans to use the fresh funds for team expansion and product development.
Founded by Anshul Divakar and Nitin Matiyali this year, UserStudy is a startup that automates user research for product teams. It claims to help companies get insights from users within a day. Product managers, designers, and founders can leverage the platform to quickly validate concepts, prototypes, or live apps.
“Our vision is to build a one-stop SaaS for all research needs of product teams globally. While product and design leaders understand the importance of user research, most teams cannot do enough because conducting research is challenging and time-consuming. With UserStudy, it becomes effortless to do research. Insights are generated in a matter of hours, not weeks,” said Divakar.
“Our view is that user research is too complex and too laborious and products and experiences are suffering at scale due to this challenge. UserStudy fixes this by making user research 10X easier for product teams globally”, said Vaibhav Domkundwar of Better Capital.
Founded in 2018 by Silicon Valley entrepreneur Domkundwar, Better Capital invests in businesses. It plans to invest in 35-40 companies from this fund in the pre-seed and seed rounds across sectors with the median check size being $300,000. In November last, the venture firm raised its maiden fund of $15.2 million to scale its pre-seed and seed investment strategy backing early-stage startups.