NEA, Accel commit $12.5m to India's MindTickle
Accel Partners and New Enterprise Associates (NEA) have invested $12.5 million in a Series A round of funding for Indian business training and networking platform MindTickle.
This is NEA's first investment in MindTickle, and the second for Accel, which committed $1.8 million to the company in October 2014. Executives from WhatsApp and Google have also invested in MindTickle.
The company will use the new funds to improve its training and business networking platforms in order to attract new clients seeking to improve the performance of their sales teams, according to a release. NEA General Partner Ravi Viswanathan will also join the board at MindTickle.
Founded in 2011, MindTickle offers its corporate clients software to help sales staff network and coordinate. Its products allow sales team members to keep up to date on product information, sales objectives, and customer details; the software is also meant to help new team members build up their skills quickly and allow managers to spot competency gaps in their teams that need to be addressed.
The company is based in San Francisco and has an operations team in India. It provides its technology under a software-as-a-service (SaaS) model, and claims to have more than 100 corporate clients, including car hailing service Ola.
NEA closed its 15th global fund earlier this year at $2.8 billion, with an additional $350 million for a co-investment vehicle. It has maintained a strong focus on India's technology space over the past year, co-leading a $4 million Series A round for retail analytics start-up IntelligenceNODE with Orios Venture Partners and investing $5 million in hotel booking platform RezNext Global Solution.
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