Cimply Five, a startup that offers cloud-based solutions for compliance and finance professionals has received an undisclosed amount of fresh investments from Wipro veteran Suresh Senapaty and former Infosys Chief Financial Officer T V Mohandas Pai.
A financial arm of CimplyFive Corporate Secretarial Services Pvt Ltd, CimplyFive aims to provide cost-effective, secure web-based, menu driven, subscription service that provides curated resolutions, timely alerts and informative dashboards to free management bandwidth for pursing business goals.
The startup was founded in September 2014 by Shankar Jaganathan (CEO), Shriram Subramanian (director), Kannan S, Lakshmi Narayana and Surya Narayana Valluri.
Shriram Subramanian refused to disclose details on stake sold and the amount of investment but said both Pai and Senapaty were upbeat about the idea and readily agreed to support it with investments. He is known for his success with the proxy advisory firm Ingovern Research Ltd, also backed by Mohandas Pai.
Jagannathan, is a chartered accountant with three decades experience and was the Corporate Treasurer at Wipro between 1993 and 2003. He is also on the boards of select Indian companies and teaches at leading management colleges. On the other hand, Kannan is a consultant company secretary with over two decades experience with corporates like Karvy and Wep Solutions.
According to Subramaniam, CimplyFive would target directors, compliance professionals, private equity and venture capital firms and use a subscription model. “We are targeting scale,” he said.
The firm recently launched its first tool called BLISS (Board Leaders Integrated Software Solution) which is a digital productivity tool for Company Secretaries that automates routines and provides timely alerts to ensure compliance and good corporate governance.