Tanglin Venture Partners Leads $2.1 Mn Seed Round for Houseware

• ByStartupStory     |    March 10, 2023

Houseware, a Software-as-a-Service (SaaS) startup, has secured $2.1 million in seed funding. The round was led by Tanglin Venture Partners, a venture capital firm based in Singapore. Other investors who participated in the funding round include early-stage investors GTMfund and Better Capital, as well as angel investors from SaaS businesses such as Snowflake, Stripe, Carta, Zendesk, and Superhuman.

According to a statement by Houseware, the company plans to utilize the newly raised $2.1 million seed funding to increase its customer base, expand its team, and focus more on partnerships with companies such as Snowflake to expand its range of services. The company is actively hiring engineering and design professionals in India and plans to double its workforce in 2023. Currently, the startup has a team of 12 members.

Divyansh Saini, Founder and CEO of Houseware, stated that in the last six months, SaaS businesses have been more focused on data and metrics. Board meetings now prioritize issues such as customer acquisition costs, the best lead channels, and how product usage relates to churn. Saini also noted that investors now concentrate on robust unit economics and the path to profitability. The startup’s success would depend on precise and disciplined execution of business strategies that surpass top-performing businesses in the industry, Saini added.

 

Houseware, which was established in late 2021 by co-founders Divyansh Saini and Shubhankar Srivastava, provides data analysis services to clients in the SaaS industry, allowing them to keep track of revenue-related metrics in real-time across different functions. The startup emerged as the winner of the Snowflake Startup Challenge at the Snowflake Summit held in Las Vegas in 2022, where it competed against over 300 other startups from around 70 nations. According to Saini, on average, about 30% of teams from each of its clients utilize Houseware’s services.

Scott Barker, partner and co-founder of GTMFund, emphasized the importance of being able to test use cases across different segments for scaling SaaS companies, particularly during a downturn. GTMFund, an early-stage fund that invests in B2B SaaS companies, is comprised of more than 220 go-to-market executives from leading companies such as Snowflake, Salesforce, and Square. They help portfolio founders with strategy, hiring, and execution.

Follow Startup Story