Sequoia Capital invests $4.7 Mn in enterprise software maker SirionLabs
Gurgaon based, enterprise software maker SirionLabs has raised $4.7 Mn in Series A from Sequoia Capital. The new funding will help company to accelerate R&D and also help in market and product development.
Launched in 2012 by UnitedLex founder Ajay Agrawal and Detroit based Claude Marais, Sirion helps businesses simplify the management of key suppliers and lower the cost of governance by delivering critical intelligence on demand and automating the full spectrum of contracts, performance tracking, invoice processing, risk, relationship alignment, and consumption on a single, integrated platform.
SirionLabs has over 70 employees, and is registered in Singapore with subsidiaries in India and USA. The company expects to reach revenues of $7-10 Mn by 2016.
Big Data Startup Frrole gets $245,000 in angel funding
Big Data startup Frrole has raised $245,000 in angel funding from a group of 20 investors led by Sharad Sharma, co-founder of software product association iSpirt, and Manav Garg, founder of Eka Software. With this, Sharad Sharma will also join as a board member on Frrole.
Bangalore Based company, has raised this capital on crowdfunding platform LetsVenture.
“We will be using the proceeds to put a team in place, since it’s been just the three co-founders so far. We are looking to add at least another three to four people, as we look to build the business in the next 12 months,” said Amarpreet Kalkat, co-founder and chief executive, Frrole.
The two year-old Microsoft Ventures Accelerator-incubated company, Frrole was founded by IIM Kozhikode graduates Kalkat and Nishith Sharma and IIITM graduate Abhishek Vaid, is one of the handful of companies, globally, which are Twitter-endorsed partners.
It provides data intelligence derived solutions for the media, entertainment and consumer verticals. It is operational in more than 50 cities in 5 countries. Overall, users everywhere contribute more than 10 Mn tweets every day. Frrole sorts through these millions of tweets, filters them out into categories and makes up its news for the day. As Twitter based data analytics isn’t enough to compete globally, the startup is looking to build better layers of semantic analysis and some new layers of contextual analysis.
Zapstitch raises seed funding
Zapstitch.com, a cloud integration platform, has raised an undisclosed amount in seed funding from a group of angel investors. The investors include Anupam Mittal, founder of People Group, which owns & operates various internet properties including Shaadi.com and Makaan.com besides mobile content and apps firm Mauj Mobile.
A startup by Satya P Devarakonda, co-founder of YourBus.in, Zapstitch aims to develop a cloud data Integration platform that seamlessly integrates/migrates data between various Cloud Apps like SalesForce, NetSuite, Workday, Concur etc.
Zapstitch was created to solve the problem of data integration that companies undergo when they require data from ecommerce, CRM, accounting and from other cloud based apps. The app steps in to integrate the data from these various Saas based apps and help companies manage their files. To begin integration, users have to log in to the apps they use, select the business entities they wish to integrate and select the frequency of synchronisation. Once the source and target apps are identified, it pulls in the data from the source to load into the target app. Users can also use it to schedule syncs at any particular time – hourly, daily or on demand.
The investment will be used by the company to grow core team, build product and extend Sales & Marketing activities. “To reach out to more customers, we are exploring active partnerships with Cloud business app vendors, CPAs, and system integrators etc. We aim to achieve 1,000 paying customers by Dec 2014.” said Satya.