
TrulyMadly
An online dating and matchmaking platform for serious dating.
Date | Investors | Amount | Round |
---|---|---|---|
- | investor investor investor investor investor | €0.0 | round |
N/A | €0.0 | round | |
investor investor | €0.0 | round | |
investor investor investor | €0.0 Valuation: €0.0 8.9x EV/Revenue | round | |
$2.1m | Seed | ||
Total Funding | 000k |
USD | 2019 | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|---|
Revenues | 0000 | 0000 | 0000 | 0000 | 0000 |
% growth | - | 4 % | 43 % | 25 % | - |
EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 |
Profit | 0000 | 0000 | 0000 | 0000 | 0000 |
EV | 0000 | 0000 | 0000 | 0000 | 0000 |
EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Dealroom estimates
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TrulyMadly is an online dating and matchmaking platform operating in the Indian market, positioning itself as a service for individuals seeking serious, long-term relationships. Founded in 2013 by a team of serial entrepreneurs including Sachin Bhatia, Hitesh Dhingra, and Rahul Kumar, the company aimed to bridge the gap between casual dating apps and traditional matrimonial websites. Bhatia was a co-founder of MakeMyTrip, Dhingra previously sold Letsbuy.com to Flipkart, and Kumar had experience with Expedia and Oracle. Snehil Khanor, an early product manager, later took over as CEO and co-founder, joined by Amit Gupta as CTO.
The platform targets a demographic of young millennials and Gen Z users, particularly those between 26 and 27 years of age, who are looking to find a partner based on compatibility rather than traditional metrics like caste or religion. A significant portion of its user growth and revenue, over 40%, now originates from Tier II and III cities in India, indicating a broad geographic reach beyond major metropolitan areas. The business operates on a freemium model, with the primary revenue stream being paid subscriptions for its 'Select' and 'Select+' services. These premium memberships unlock enhanced features such as increased profile visibility, the ability to see who has liked your profile, and more direct communication options. While a small percentage of revenue comes from advertising, subscriptions account for the vast majority of its income.
TrulyMadly's core service is delivered through its mobile apps on Android and iOS. The platform emphasizes user safety and profile authenticity through a proprietary 'Trust Score' system. Users can increase their score by verifying their identity using phone numbers, photo IDs, and social media profiles like LinkedIn. A higher trust score improves a profile's visibility and access to matches, and a minimum score of 30% is required to start interacting with others. The platform even integrated with CRED, allowing members with high credit scores to display a badge, which reportedly doubles their match rate. To further ensure a safe environment, the app prevents users from taking screenshots of profiles and employs an AI-based algorithm, named 'Chowk-AI-dar', to filter out fake or undesirable profiles, reportedly rejecting about 43% of new applications. Key features designed to foster meaningful connections include compatibility quizzes developed by psychologists, video chat functionality, and 'Sparks', which allow users to send a personalized message to initiate a conversation without waiting for a mutual match.
Keywords: online dating India, serious matchmaking, relationship app, compatibility matching, Indian singles, dating platform, freemium dating app, Trust Score verification, find love online, long-term relationships, matchmaking service, Snehil Khanor, Sachin Bhatia, safe dating app, user verification, AI matchmaking, premium dating service, mobile dating, love story, Indian matchmaking