SaaS startup UserStudy raised $1 million in its pre-seed led by Better Capital where Sparrow VC, Maninder Gulati, Good Capital, Gojek, Microsoft, Meta, Oyo, FlexiLoans and UpGrad also participated.
UserStudy is a complete research platform. UserStudy plans to use the new funds to expand its tech platform and hire new employees. It enables businesses to gain insights from their video and audio channels. These insights are later consolidated and saved in a single location. UserStudy also assists product teams (of tech companies) in recruiting qualified candidates by providing customised video and audio-based interviews and tests. According to a report, the Indian SaaS market will receive investments worth up to $4.5 billion in 2021, representing a 170% increase over 2020. Furthermore, the sector is expected to grow to a $30 billion market by 2025, accounting for 9% of the global SaaS market.
