‘Shopify’ For Services Omnify Raises Pre-Series A Funding From AngelList Syndicate, Sequoia Scout & Angels

Global SaaS platform for SMEs, Omnify has raised an undisclosed amount in its pre-series A funding round led by AngelList Syndicate and Sequoia Scout with participation from angel investors such as Ramakant Sharma, Anand Chandrasekharan, Dhruv Vohra, Ashish Tulsian, Adi Chugh and others.

The company plans to use the funding to grow the team, and invest in the product, technology, and growth. It also plans to use the capital to invest in its product and technology stack to go deeper within categories such as hospitality, real estate, sports, and wellness and expand its global footprint beyond North America.

Launched in 2016 by Manik Mehta and Kabandi Saikia, Omnify is a unified SaaS-based platform that enables small service businesses to operate on ecommerce models, schedule, and communicate with their customers. It provides everything from the website, booking system, payment processing, scheduling and customer management, amongst other services.

In April 2017, Omnify has secured $150K from Rajan Anandan, L.D Sharma and Saurabh Arora.

“Early this year, when most businesses struggled to stay afloat, we saw the opportunity to enable businesses to manage their capacities and build a hybrid online-offline model to survive the pandemic. We grew over 5x with the surge in demand and helped hundreds of businesses stay afloat and transition to adapt to the New Normal” says Kabandi, cofounder and COO at Omnify.

The startup claims that its services are used by more than 5,000 businesses in over 50 countries across the globe.

The startup competes with PlayO, Groundwala.in, Athletto, PlayNLive, Allsport.in, Fitternity and Gympik.

Omnify has also onboarded Nikhil Moorjani (ex- VP of Consumer Business, HealthifyMe) as their chief growth officer. 

India’s Burgeoning SaaS Market  

Latest Inc42Plus report, “Opportunities For Horizontal SaaS In India’s SMB Market 2020”, revealed that in FY2019, the aggregate revenue of Indian origin horizontal SaaS startups stood at over $518 Mn, which is a 27% surge compared to the previous year. The fact that this deals with the India-registered entities, indicates the growing adoption of Indian origin horizontal SaaS products in the domestic market as well, besides overseas.

Globally, according to NASSCOM report, the SaaS market is projected to reach over $307 Bn in market size by 2026 from $158 Bn in 2020.

Zoho and Freshworks are two of the most famous names in the Indian startup ecosystem and together these companies have put Chennai on the global SaaS map, which has allowed the city to become India’s SaaS capital. The influence of these two startups on the SaaS cannot be understated and they have inspired hundreds of other startups in Chennai and around India.

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