Little Black Book, a Delhi-based local discovery platform, has raised ₹6.5 crore funding in a new round. The funding round was led by Blume Ventures, along with the participation of IDG Ventures and Indian Angel Network.
This is the third institutional funding for the startup. With this, the funding raised by the company so far stands at around ₹15.5 crore.
The fresh funding will be used by the company to bolster its senior management hires as well as to expand its geographical footprint to go international. Suchita Salwan, co-founder and CEO of the startup, said, “we will look at expanding LBB to cities in the Asia Pacific region and the Middle East.”
Commenting about this new funding round, Sanjay Nath, managing partner at Blume Ventures, said,
What attracted us most to LBB was its dynamically curated approach to discovery – its integrated platform, augmented by a team of curators, has kept its loyal customer base sticky and growing at a fast pace. Further, it has been able to execute innovative and targeted campaigns for marquee brands, creating a recurring revenue stream.
The startup was founded in the year 2012 by Suchita Salwan and Dhruv Mathur. Unlike other discovery platforms, Little Black Book covers a wide spectrum of interests, including food, events, travel, adventure, lifestyle and shopping, among other things.
The platform also allows the users to make plans with friends using an events check-list. It also claims to have six lakh monthly users via its website.
The company claims to have grown its traffic to over 200% in one year. It further claims to have an active user base of 2 million while expanding revenues over 500%.
It is available in eight cities in India including Delhi, Mumbai, Bengaluru, Pune, Kolkata, Chennai and will look at Hyderabad as the last stop in its India expansion strategy.