San Francisco, headquartered Hiver, raised USD 22 million (INR 165 crore) in Series B round on March 7, 2022. Hiver is a software-as-a-service (SaaS) startup operated by GrexIT Inc.
K1 Capital led the Series B round of funding. Existing investors such as Kalaari Capital, Kae Capital, and AngelList also invested in Hiver.
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Hiver’s Purpose of Funding-
Hiver wants to use the fresh capital for bolstering marketing and sales activities.
They seek to hire professionals in product development, engineering, marketing, and sales function.
Previously, Paytm founder Vijay Shekhar Sharma backed the company’s angel funding round in 2012. In October 2018, Hiver raised USD 4 million in Series A funding. Kalaari Capital and Kae Capital led the Series A round for Hiver.
What the founder has to say-
Niraj Rajan Rout, Founder and CEO of Hiver, said, “We have always been a revenue-generating firm as we were bootstrapped for a while. These funds will help us take up the next leg of expansion.”
Commenting upon the utilization of funds, he added, “A big part of this investment will go into driving growth, both on marketing and sales side of things, and also significantly into product development. We are growing very fast, and the aim is to touch an annual run rate of $100 million in the next four to five years.”
Niraj also talked about the company’s email services. He said,” If there is a company, which employs 25-500 people, then they would have an email id where the company would be getting a lot of queries. Most businesses still rely on email for customer service and customer communication because email is very strong for many reasons. We make it really simple for companies to handle their customer communication by email. In addition to making it simple, we provide a lot of activities to automate the process.”
About Hiver
IIT Kharagpur graduates Niraj Rajan Rout, and Nitish Nandy founded Hiver in 2012. It is a software-as-a-service (SaaS) startup that works with firms that primarily use emails for servicing their customers.
At present, Hiver works with over 1500 companies. Their customer base boasts of Harvard University, AppsFlyer, Upwork.com, Vacasa, and Kiwi.com. The Saas startup has operations across 30 countries such as the US, UK, Australia, Germany, etc.
The firm has headquarters in San Francisco, U.S, where it gets a significant portion of revenue share, i.e. more than 50 per cent. However, revenue contribution from India is minuscule.
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 in Series B round on March 7, 2022. Hiver is a software-as-a-service (SaaS) startup operated by GrexIT Inc.){kind=link}