SUMMARY
Zuper provides productivity suits for managing field services and customer engagement
It will use the freshly-infused capital towards product leadership, expanding its extensive partner ecosystem and investing in sales and marketing
According to Zuper, in 2021, its annualised recurring revenue (ARR) grew by 7X year-over-year
Field services management startup Zuper has raised $13 Mn in a Series A funding round led by FUSE with participation from Sequoia Capital India, Prime Venture Partners and HubSpot Ventures.
Founded in 2016 by Vijay Narasiman and Karthik V, Zuper provides productivity suites for managing field services and customer engagement. It helps residential and commercial service businesses in industries such as cleaning, pool maintenance, landscaping, HVAC, roofing, garage repair, and internet service providers to offer an on-demand experience to customers by optimising the utilisation of a distributed field workforce.
The new funding round takes the total funding raised by the startup to $14.1 Mn. It will use the freshly-infused capital towards product leadership, expanding its partner ecosystem and investing in sales and marketing.
“Zuper is making waves and driving impressive results with world-class customers in an industry where digital tech innovation traditionally moves slow,” said Kellan Carter, General Partner at FUSE.
“The company’s product market fit coupled with a strong executive team has enabled Zuper to become a category-leading field service software provider with global scale, customer-driven growth and a robust ecosystem of partners across the entire service management tech stack. We see significant opportunities for Zuper to continue delivering tangible ROI for its customers,” he added.
The Indian Software as a Service (SaaS) landscape continues to mature rapidly, with more companies reaching larger scales and driving heightened investors interest. In 2021, investment in SaaS increased more than 170% over 2020.
This interest from investors spans across early-stage Indian SaaS startups (85% increase in average value of seed round over 2019) and mature startups and companies (20% increase in Series D rounds or above).
According to Inc42 data, in 2021, Indian enterprisetech startup funding recorded a 97% jump with $3.2 Bn being invested in the startups in this segment.
“Today, customer experience and operational efficiency are key drivers of competitive advantage for any enterprise. Software companies like Zuper that enable this are well-positioned to win in the market and are exactly what we look for as we invest in companies that can add tangible value to HubSpot’s customer base,” said Andrew Lindsay, senior vice president, corporate and business development at HubSpot.
According to Zuper, in 2021, its annualised recurring revenue (ARR) grew by 7X year-over-year. The startup further claimed to have achieved 140% net revenue retention.
In the same year, it added more than 100 new customers across North America, APAC and EMEA.
Earlier this month, SaaS management platform Zluri had raised $10 Mn in a Series A funding round led by MassMutual Ventures with participation from Endiya Partners and Kalaari Capital.
