Inventus, IDG lead $2m Series A for India's Peel-works
Inventus Capital Partners and IDG Ventures India have led a $2 million Series A round of funding for Peel-works, a Mumbai-based software as a service (SaaS) and big data analytics firm.
Parag Dhol from Inventus and Karan Mohla, vice president with IDG, have joined the board of directors.
Founded in 2010, the company offers SaaS-based HR managmenrt platform called 9Yards as well as a big-data analytics platform Genius. This product serves clients in the fast-moving consumer goods, telecom, healthcare and financial sectors.
The new funding will be used to expand ithe company's existing offerings, hire senior management and ramp up technology and product development.
"Peel-works has experienced tremendous growth and traction. The adoption of their unique multi-product SaaS and analytics platform by leading companies showcases their technology and analytics expertise," Mohla said in a statement.
The company had raised funding from the Indian Angel Network (IAN) in 2011.
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