Online consumer products research platform Reviews42 has raised $5 million in Series B funding from Tiger Global Management LLC and Nirvana Venture Advisors. The funds will help the company in further development and innovation in products, building the team and enhancing infrastructure.
Apart from raising their second round of funding, the company has rebranded itself to ‘Zopper’, signifying the broad capabilities offered by their platform across comprehensive price comparison, product discovery and user reviews.
The company raised an undisclosed amount in the previous round of funding from Nirvana Venture Advisors, Blume Ventures & others in April last year.
Speaking on the funding Neeraj Jain, co-founder, Zopper, said, “Our online portal and mobile applications use has risen dramatically in last 18 months, and we believe this is just the beginning. We are planning to scale up every aspect of our business and provide a number of new products to enhance our customer are shopping experience. This round of fundingwould be utilized to build up our products, team and technology to seamlessly integrate offline retailers.”
“Our potential for growth is immense. The total addressable product related retail market is around $100 billion. With increasing smartphone penetration and trends like ROPO (Research online, Purchase Offline) and Showrooming on the rise, we are bullish on further growth. I feel we are at a vantage point of connecting online with offline.This round of funding enables us to get associated with the leading international investor, Tiger Global. The association will help us to get a wider exposure, which will be the biggest value for us. ” said Surjendu Kuila, co-founder Zopper.
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