Local suggestion platform for places, services and events Little Black Book (LBB) has raised Rs 6.5 crore in its third institutional round of funding.LBB will use a part of the capital to bolster its senior management hires as also expand its geographical footprint to go international. “We will look at expanding LBB to cities in the Asia Pacific region and the Middle East,” said Suchita Salwan, co-founder, and CEO of LBB.
The round, which was led by Blume Ventures, also saw participation from existing investors including IDG Ventures and Indian Angel Network (IAN). With this investment, the total capital raised by LBB stands at Rs 15.6 crore.
Co-founded by Salwan and Dhruv Mathur, the five-year-old platform enables sharing and discovery of local businesses across categories of food, shopping, events and activities through community-driven recommendations. The platform offers over 30,000 recommendations across 18 categories at present.
LBB claims to have grown its traffic to over 200% in one year with an active user base of 2 million while expanding revenues over 500%. The platform is available in eight cities in India including Delhi, Mumbai, Bengaluru, Pune, Kolkata, Chennai and will look at Hyderabad as the last stop in its India expansion strategy.
LBB also counts Rajan Anandan of Google, Sachin Bhatia of Truly Madly and Aashti Bharti of Jubilant Life Sciences amongst its investors.