Squadhelp lands $10 million in funding to grow its naming and domain name sales platform

As if launching a startup is not difficult enough, creating the right name for your brand can also be very challenging. Choosing a perfect name for your brand is important because it’s often the first thing that potential customers will see or hear about your business.

Your brand name is essentially the face of your business. As such, brand recognition, differentiation, and emotional connection are very critical when you’re developing a coming up with a name for your new startup. That’s where SquadHelp comes in, a tech startup and provider of an online platform that helps entrepreneurs and business owners find the perfect name, logo, slogan, and other branding elements for their businesses.

“Instead of hiring a branding agency, Squadhelp allows you to host competitions for business names, tag lines, logos, and other marketing projects,” the company said in a post on LinkedIn.

In just over a decade since its inception, Squadhelp has become the world’s #1 naming platform for founders and entrepreneurs to find the perfect name for their startups. Squadhelp is currently used by over 18,000 companies across the globe to help come up with a name for their brand, business, product, or service.

Founded in 2011 by Darpan Munjal, Squadhelp offers a wide range of naming and branding services to a community of more than 100,000 creatives from around the world. With the popularity of generative AI tools like ChatGPT, late last year Squadhelp tapped into a  name-generation tool powered by GPT-3 to generate brand names for business. The company also claims to have over 150,000 premium domain names in its marketplace.

Squadhelp has been bootstrapping since its inception over a decade. The company recently raised its first outside investment to further grow its platform.

In a post on Twitter, CEO Darpan announced that Squadhelp has closed a $10 million strategic investment led by digital asset broker firm Hilco Digital. Darpan added that the new cash infusion to “expand our team, accelerate the development of new game-changing offerings as well as significantly expand our overall Marketing Investments.”

“Today marks an exciting milestone for http://Squadhelp.com in our pursuit to revolutionize the branding and naming industry. I’m thrilled to announce a strategic investment of $10M from @HilcoDigital,” Darpan tweeted.

Today marks an exciting milestone for https://t.co/3v0Iw71BJg in our pursuit to revolutionize the branding and naming industry.

I'm thrilled to announce a strategic investment of $10M from @HilcoDigital

— Darpan (@darpanmunjal) March 23, 2023

In addition to the funding, Squadhelp also announced a strategic partnership with HilcoDigital to create what the CEO described as “a game-changing, one-of-a-kind ultra premium marketplace for top tier domains.” As part of the funding agreement, Squadhelp said that Andrew Miller, a longtime fixture in the domain business and a member of Hilco Digital, will join its board of directors.

“I would like to welcome Andrew Miller @amiller325gd to Squadhelp’s Board. Andrew’s deep experience with digital assets along with his strategic focus and relationships will be extremely valuable to our growth,” Darpan tweeted.

I would like to welcome Andrew Miller @amiller325gd to Squadhelp's Board. Andrew's deep experience with digital assets along with his strategic focus and relationships will be extremely valuable to our growth.

— Darpan (@darpanmunjal) March 23, 2023

According to RocketReach, the Illinois-based startup currently has about 75 employees.