Sequoia invests $5m in India's Vymo
Sequoia Capital India has committed $5 million in Series A funding to Vymo, an enterprise sales assistant based in India and the US.
This is the first round of funding for Vymo, which has been bootstrapped since its founding in 2013. Vymo will use the new capital to improve its research and development efforts and strengthen its presence in international markets, particularly the Middle East and Asia Pacific regions, according to a VCCircle story linked to from the company's Twitter feed.
The company's app is meant to help sales teams and individual representatives prioritize their tasks using contextual clues based on previous interactions with customers. In a similar way it also aims to adapt itself to team members' work habits to predict upcoming requests and improve performance.
Vymo has 25 clients so far, including the Housing Development Finance Corp. and insurance firms SBI Life and AXA. It claims its customers have reported productivity increases of more than 25% after deploying the product.
Sequoia has made a number of investments recently in companies providing technology solutions for Indian corporate clients. The firm led a $51 million round for cloud security and information management solutions provider Druva in September, followed by a $55 million Series F round for customer support platform Freshdesk earlier this month.
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