Healthcare-focused SaaS company Indegene Omnipresence has raised $20 Mn from Syneos Health, a US-based biopharmaceutical solutions provider. While the Bengaluru-based company did not reveal the funding amount, a Livemint report, citing an anonymous person, had divulged the details.
Inc42 has reached out to Indegene for the confirmation of the funding amount and the story will be updated once and then the company responds.
With these funds, the company plans to accelerate the Customer Experience Management (CXM) platform for life sciences and healthcare clients. Manish Gupta, the cofounder and CEO of Indegene, reportedly said that the funds will be used primarily for market expansion, improving product capabilities, and hiring sales and marketing teams.
Additionally, the company plans to increase its presence in the international markets, especially in the US and Europe. “We will also accelerate the buildout of the patient cloud,” Gupta added.
Indegene Omnipresence, which is a wholly-owned subsidiary of Indegene, is a unified customer experience platform for healthcare and life sciences organisations. The platform provides its clients with customer relationship management (CRM), omnichannel engagement, advanced analytics, and AI capabilities. The platform applies new-age machine learning technology and combines with the modern omnichannel approach to help its clients.
In 2017, the Omnipresence platform had tied-up with Microsoft to provide Microsoft Azure analytics, Microsoft AI, and Microsoft Dynamics 365 offerings to improve their clients’ productivity and collaboration skills.
On how the strategic alliance of the companies will work, Alistair Macdonald, CEO of Syneos Health, said that Syneos Health’s Dynamic Assembly network is an open ecosystem of the most agile data and technology collaborators, such as Omnipresence, to strategically address their biopharmaceutical customers’ challenges.
India’s SaaS market is expected to be at $3.3 to $3.4 Bn by 2022, with a 36% annual growth, according to a NASSCOM report. The report also cites that the growth can be attributed to cheaper workforce, abundant talent, mature sales ecosystem, and adoption of deeptech technologies in India.
A report by Inc42 DataLabs also noted that the enterprise tech startups raised $3.01 Bn across 742 deals between 2014 and H1 2019.
Moreover, healthcare SaaS market is expected to witness another major player joining it. Rostow Ravanan, cofounder of Mindtree, after his exit from the company, is now planning to launch a SaaS platform for the healthcare and manufacturing sectors.