In this day and age, almost everything is being digitised. Even sectors that are deeply rooted in paperwork and manual processes are changing their approach and are going digital. Tel-Aviv based EasySend is a startup that helps change tedious manual processes into digital experiences and it has announced securing €13.6M in funding. In a conversation with the company’s CEO and Co-Founder Tal Daskal, we learn more about the company’s origins, challenges, offerings, and more.
Fresh funds to help expand customer base
The latest €13.6M funding round for EasySend was led by Hanaco with participation from Intel Capital and it follows the previously undisclosed €4.25M seed round from existing investors Vertex Ventures and Menora Insurance. The fresh funding will be utilised by the SaaS startup to double its current staff numbers, optimise its product development, and expand its customer base in the US, Europe, and Asia.
“We raised our Series A funding amidst the Coronavirus pandemic within just two months after starting the fundraising process – which just goes to show the current need and desire for secure, efficient and easy to use digital processes. We plan to use the investment to expand our operations in the United States, as well as broaden our verticals, such as government, telecom, medicine, and more,” says Daskal.
Some of the most successful companies came from humble beginnings and the same is the case with EasySend. The SaaS company is based in Tel Aviv, New York, and EMEA, and was founded in 2016 by Tal Daskal, Omer Shirazi and Eran Shirazi. Daskal tells us about the company’s initial days, when they started from the attic in one of the co-founders’ parents’ house.
“We knew we were onto something big but we couldn’t have imagined just how big. We got the foot in the door when we sold our product to Halman Aldubi Investment House, our alma mater. We understood the internal pain of their employees first-hand. The amount of paper and PDF forms that needed to be filled out just didn’t make sense. And that’s how the idea for EasySend was born – eliminating manual processes and replacing them with digital journeys,” notes Daskal.
As for the initial challenges, the co-founders say they were travelling so frequently that the flights were akin to their second home. “At least half of the time we were spending on business trips, trying to bring our product to the foreign market. We have already proved the product-market fit in the Israeli market, and we understood that there was tremendous potential for our product in foreign markets.”
“But we also realised that to grow big on a global scale, we would need more resources than we had internally. So, we needed to change our mindset completely,” Daskal adds.
Helping paperwork-relying companies go digital
There are enterprises such as insurance companies and financial institutions that rely heavily on paperwork. Since COVID-19, such companies are struggling to keep up with increased demands, and thus, going digital is the only option. “Utilising PDF forms and other manual processes are not only more likely to lead to human error and poor customer service, but they are also static processes that fall short of analysing and optimising the customer form completion experience,” remarks Daskal.
Going digital with the help of an external team could prove costly for a company, not to mention it is also time-consuming. And this is where EasySend steps in. According to Daskal, EasySend is a fully no-code platform. The company takes lengthy, complicated forms and automatically transforms them into digital journeys that can be completed on any device.
“Using real-time advanced analytics, companies that go digital with EasySend gain full visibility into their customers’ workflow activities and behaviors. Companies can easily identify where their customers dropped out of workflows so that they can optimise their form completion rates, drive revenue growth as well as enhance customer experience and satisfaction rates,” he explains.
Tech behind the veil
EasySend offers three main features, the main platform called the Builder, Kadabra AI, and the eSignature tool. The Builder builds enterprises’ digital journeys. It’s a no-code, user-friendly, drag-and-drop platform. Furthermore, EasySend’s proprietary Kadabra AI is an AI tool that converts paperwork-based processes and PDFs into digital customer journeys.
The eSignature tool offers functionality for adding legally binding eSignatures. In the future, the SaaS startups’ roadmap includes adding advanced features to its offerings. This includes auto-optimisations, additional flexibility in terms of design, and expanding the range of pre-made templates.
Interview by Rahul Raj
Image credits: EasySend