San Francisco-based, Software as a Service (SaaS) platform, Hevo, announced on 29th July, 2020, that it has secured USD 8 millions in series A financing round. The round was led by a Singapore based VC firm known as Qualgro and former Stripe top executive Lachy Groom.
Existing investors, Sequoia Capital and Chiratae Ventures also participated in the round. The company intends to dispose the funds in expanding into new markets.
About the company
Established in the year 2017, Hevo supports businesses in integrating multiple sources of data from functions such as financing, operations, marketing, sales and many other[1] departments. Hevo enables companies to make faster decisions in real-time by monitoring the performance metrics of each unit.
The start-up says that, small and medium scale companies deploy more than 40 different SaaS applications. These data silos do not provide the full picture of the customers journey which makes it difficult to measure performance metrics.
The start-up mainly focuses on healthcare industry, e-commerce industry and financial technology, which heavily depends on customer data to drive sales.
Co-founder of Hevo, Manish Jethani, explained, “We enable companies to eliminate data silos without having to set-up an engineering team to build and maintain complex integrations with multiple systems.”
Hevo currently has customer base in India, Hong Kong, France, Australia and United States. Its clients include Marqeta, a US-based payments company valued at over $4 billion.
The proceeds from the Series A round will be used to accelerate Hevo’s global geographic expansion, as well as building a team across technology, sales and marketing functions.
About the founders
Based in San Francisco and Bengaluru, Hevo was launched by IIT alumni Sourabh Agarwal and Manish Jethani.
Mr Jethani has a sound corporate background. He previously worked with Grofers in the position of Vice President of Product Management for a period of 1 year and 6 months. Mr Agarwal on the other hand has an engineering background. He worked with Unbxd Inc and Flipcart as a Principal Engineer and Senior Software Engineer respectively. Mr Jethani and Mr Agarwal together founded Venture Capital (SAIf Partners) backed start-up – SpoonJoy, which was later acquired by Grofers.
We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know
–if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!
 platform, Hevo, announced on 29th July, 2020, that it has secured USD 8 millions in series A financing round.){kind=link}
Yes! Finally someone wrіteѕ about news.