This Week In The SaaS Universe- Updates & Highlights With spotSaaS Weekly Roundup
Latest Funding News
Spendflo raises $11 million led by Prosus Ventures & Accel Partners
| Company Name | Spendflo |
|---|---|
| About the company | Spendflo is a SaaS buying and management platform based in San Francisco and Chennai |
| Founder name | Siddharth Sridharan, Ajay Vardhan, and Rajiv Ramanan |
| Funds raised | $15.4 million, including $11 million in Series A funding led by Prosus Ventures and Accel |
| Investors | Prosus Ventures, Accel, Together Fund, Signal Peak Ventures, Boldcap Ventures |
| Use of funds | Product growth and global expansion with greater focus on the North American market |
Apptile gets $2.5M funding
| Company Name | Apptile |
|---|---|
| About the company | Apptile is a Bangalore-based SaaS startup founded in 2021, offering customisable and hyper-personalised app-building capabilities that were previously only available to large brands. |
| Founder name | Rohit Modi, Samyam Annappa, and Vishal Sood |
| Funds raised | $2.5 million in a seed round |
| Investors | Mankekar Family Office and Ramakant Sharma, founder at Livspace.com |
| Use of funds | Launching its platform to allow businesses to create customised, high-performance mobile apps without the need for coding or design experience, expanding its team, and further developing its platform. |
Iron Pillar closes $129 million fund to invest in Cloud and SaaS startups
| Company Name | Iron Pillar Fund |
|---|---|
| About the company | Iron Pillar is a venture capital firm that invests in cloud software and consumer tech companies. |
| Funds raised | $129 million for its late stage fund for investing in global cloud companies from India. |
| Investors | New investors including two Endowments and a Foundation, apart from existing investors from across the US, Europe, and the Middle East. |
| Use of funds | Investing in Series B and C stage global cloud companies from India, with a strong emphasis on SaaS and Cloud Infrastructure around themes such as cyber security and governance, DevOps tools, future of work and education, and automation. |
LightMetrics Bags $8.5 Mn From Sequoia To Keep Risky Driving At Bay
| Company Name | Lightmetrics |
|---|---|
| About the company | LightMetrics is a video telematics platform that analyses video feeds from cameras installed in vehicles to understand driver behaviour, reduce accidents, and improve safety. |
| Founder name | Soumik Ukil, Ravi Shenoy, Mithun Uliyar, Gururaj Putraya, Pushkar Patwardhan, and Krishna AG |
| Funds raised | $8.5 million in a Series A funding round led by Sequoia Capital India |
| Investors | Sequoia Capital India |
| Use of funds | Expanding engineering, customer success, product, marketing, sales, and analytics teams, investing in new products and services to deliver more value to fleets across its operations, and exploring allied opportunities like auto insurance. |
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April 12, 2023
