According to a press statement from the company, Lio secured $5 million in a seed round backed by Lightspeed India Partners and Sequoia Capital India.
The monies will be used to hire more developers and boost the number of people who use the company’s mobile app. The app currently has over one million downloads and has also been released in Indonesia. Because it has a 45 percent non-English speaking user base, the portal also supports ten Indian languages.
Anupam Vijayvergia, Co-founder and CEO of Lio said “The investment by Lightspeed India and Sequoia Capital India helps accelerate Lio’s vision of enabling small businesses to be smarter by leveraging their business data for better decision making. We aim to achieve this by helping people organize their data using a simple yet powerful mobile app that they can customise to their needs,”
Anurag Vijayvergia, Co-founder and CPO, Lio. said “With this investment, we aim to scale up the engineering and product team at Lio. We are proud to be a first-of-a-kind platform that enables mobile first users to be a smarter version of themselves leveraging the data templates created by other users in their community, which makes Lio progressively better for every successive user,”