Info Edge has joined WSO2’s lead investor Goldman Sachs with the investment
Info Edge, through its arm RedStart Labs, would contribute to WSO2’s business expansion plans across India
WSO2 develops applications and services with cloud-native and open-source technologies for API management, integration, and CIAM
RedStart Labs, a subsidiary of Info Edge Limited, which runs Naukri.com and Jeevansathi.com, participated in US-based tech firm WSO2’s $93 Mn (INR 721 Cr) Series E growth funding round.
With this investment, Info Edge joined WSO2’s lead investor Goldman Sachs Asset Management Private Credit (Goldman Sachs), which completed the first tranche of the Series E round in November 2021.
Info Edge, through its arm, would contribute to WSO2’s business expansion plans across India. RedStart focuses on backing startups which are creating new ecosystems and outcomes driven by emerging science and tech.
WSO2 develops applications and services with cloud-native and open-source technologies for Application Programming Interface (API) management, integration, and customer identity and access management (CIAM).
“RedStart, as part of Info Edge with its deep market understanding, extensive network, and success in investing in digital businesses like Zomato, will play a strategic role in helping us accelerate our growth and customer adoption in India,” said Sanjiva Weerawarana, founder and CEO of WSO2, adding that the company is witnessing a rising demand for its services across India.
WSO2 has over 800 customers in more than 90 countries and claims to have already established a strong presence in India. Over 35 enterprises in India, including government agencies and global leaders in financial services, communications, healthcare and technology, have incorporated WSO2’s products and solutions.
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Over 100 Mn consumers in India are currently interacting with these organisations using the digital services powered by WSO2, said the company.
Speaking about its latest investment, Amit Behl, a partner at Info Edge who led the company’s investment in WSO2, said, “As digital transformation accelerates across Indian enterprises and also as open-source forms the foundation of government’s Digital India initiative, we expect India to emerge as a key market for WSO2 not only for its revenue potential but also for developer adoption.”
Info Edge Investments
The Zomato-backer internet company was one of the lead investors in Rajasthan-based rural vehicle marketplace Tractor Junction’s $5.7 Mn seed funding round last month.
In March, Info Edge Ventures also led the funding round for 1K Kirana, which raised $25 Mn in a Series B funding round.
Besides the online job portal Naukri, matrimony site Jeevansathi, Info Edge also has companies such as proptech platform 99Acres, education portal Shiksha, offline executive search business Quadrangle in its portfolio.
Earlier this year, the company acquired the Indian dating platform Aisle for around INR 150 Cr ($20 Mn approx).