ChronicleHQ Inc, which operates software-as-a-service (SaaS) presentation platform Chronicle, has raised $7.5 million (around Rs 62.09 crore) in a seed funding round co-led by Accel and Square Peg.
The round also saw participation from undisclosed angel investors across Apple, Google, Meta, Slack, Stripe, Superhuman, OnDeck, and Adobe, among others.
The company plans to use the fresh funds for product development and hiring.
“Our adopters can use Chronicle to create decks in 8 minutes instead of 8 hours. We see Chronicle as a way to anchor any meeting or discussion, in-person, remote, or asynchronous.” said Mayuresh Patole, co-founder and chief executive officer, Chronicle.
Founded in 2021 by IIT Bombay graduates, Patole and Tejas Gawande, Chronicle is a SaaS presentation platform that allows users to create interactive and engaging presentation slides by offering them pre-designed blocks as templates, which also makes the process quicker.
The platform is currently in the beta stage with the first version of their product that focuses on helping founders make pitch decks. The startup, which currently has 15 members plans on expanding to other internal and external storytelling use cases as well.
“With its design and experience, Chronicle has started emerging as the choice of storytelling tool with modern ventures,” said Shekhar Kirani, partner, Accel.
The SaaS sector also has seen significant investment activity amidst an ongoing funding crunch in the startup ecosystem. Earlier today, Bengaluru-based SaaS startup Scrut Automation, raised $7.5 million in a strategic funding round led by MassMutual Ventures.
Accel, which counts the likes of Flipkart and Freshworks as part of its portfolio companies also participated in the $8.3 million Series A funding round of B2B SaaS platform Venwiz last week. Last year, the VC firm also announced its seventh India- and South-East Asia-focused fund having a $650 million corpus.
In January, VCCircle reported that Accel along with Elevation Capital co-led the Series A funding round of the social commerce platform Free Up. The financial details of the transaction, however, could not be ascertained.