It’s pertinent for businesses and marketing agencies to continuously track reviews and customer feedback on review sites and social networking platforms. After all, feedback and ratings do matter for customers, whether for booking accommodation at a hotel or buying a product on an ecommerce website.
Noida-based Rannkly is looking to make it easier for businesses and marketing agencies to track these through its platform, which is sort of a dashboard for all reviews and feedback left on social media.
Founded in 2021 by Vishnu Sharma, Rannkly started as a platform that would enable users to conveniently track all their reviews from a single interface.
“However, over the course of just 2 years, Rannkly has evolved significantly,” Sharma told Entrackr. The startup has now gone beyond review management to offer solutions that help businesses manage their reputation online.
The platform now features solutions like social media management, campaign management, messaging management, competitor analysis, and more.
Sharma further disclosed that the company began with a handful of brands in the initial year of its inception. But since 2022, there has been remarkable growth. It had more than 500 brands in the fiscal year ending March 2023, up from 50 brands in the previous year. As of now, the company has more than 740 brands.
Rannkly has remained bootstrapped thus far, but it’s looking to raise external funding. Sharma did not disclose the amount the company is looking to raise and when the fundraising process would conclude.
The startup is now looking to further diversify its offerings by offering a ‘competitor analysis’, which is self-explanatory. It’s also going to introduce advanced website widgets, more advanced Whatsapp automation, an AI-powered social media comments tool, and a Rannkly extension to help analyze comments on social media platforms directly.
Rannkly is targeting the $1128.23 million market of the global online reputation market size, which is pegged to grow at a CAGR of 6.7% by 2028 to go past 1665.35 million. Rannkly’s SaaS model also ensures it can tap into the SaaS global omnichannel market for the software sector, which is estimated to be worth $22.4 billion by 2025.
Rannkly, however, is not the only company looking to make big in this sector. Already the likes of Konnect Insights, RepUp, Locobuzz, and Zoho have gained wide traction. The US-based Birdeye, an experience marketing platform for multi-location businesses, last year raised $60 million in a series C funding round led by Accel-KKR.
