Funding Alert

PickMyWork raises $1 million in seed round of funding

• ByStartupStory     |    September 13, 2022

PickMyWork, a startup that helps digital businesses gain end users, has secured $1 million in a seed round headed by SOSV’s Orbit Startups. Soonicorn Ventures, Upaya Social Ventures, Blume Founders Fund, Venture Catalyst, Mumbai Angels, 888 Network, Imperier Holdings, and We Founder Circle were among the renowned investors who participated in the round.

The round also featured investments from prominent CXOs in the startup sector, including Turtlemint’s Prajakt Deolasee, IndiaLends’ Gaurav Chopra, and Zypp Electric’s Akash Gupta.

Founded in 2019 by Kajal Malik, Vidyarthi Badireddy, and Utsav Bhattacharjee, PickMyWork is a Gurugram-based firm that provides a pay-per-sale model for customer acquisition to digital enterprises and merchants. This allows internet-focused enterprises to reduce their client acquisition expenses (CAC). PickMyWork presently has 3,000,000 gig workers in its network, providing individuals with supplemental earning options to boost their income. According to the company’s statement, the company reports three times the revenues per hour of work as compared to other delivery jobs, with a model that is one-tenth the cost of online marketing or having in-house sales teams for internet companies.

“PickMyWork is solving the biggest challenge in terms of customer acquisition for international corporations and high-growth startups alike, all while helping India’s gig workers upskill and create the future they want. We are proud to be a part of their mission as the team goes on to empower India’s entrepreneurs and shape the course of technological advancement in tier 2 cities,”,” said William Bao Bean, Managing Director of Orbit Startups.

The funds will be used to expand the company’s network of agents across India. A part of the cash raised will also be utilized to strengthen the distribution system’s technological base, increasing further efficiency.

Vidyarthi, CEO of PickMyWork, said in an interview, “With new internet businesses launching every day there is a dire need for a strong distribution pillar to catalyze their growth. It becomes an impossible task for these businesses to penetrate the tier 2 and tier 3 markets where there is still a grave need for assistance as these geographies gradually adapt to the digital world. PickMyWork is bridging this gap for various businesses, while simultaneously creating income sources. We have seen the model succeed, which is also reflecting in our month-on-month growth rate of 30 percent. We are glad that our investors are here to guide us as we move towards our ambitious targets.”

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