Software product firm Sapience Analytics raises fund from NEXT Investors

Sapience Analytics, a software startup which develops workforce management software, has raised an undisclosed amount from Credit Suisse Asset Management’s NEXT Investors. The fund raised by Sapience Analytics will be primarily used to accelerate its expansion into the US market.

As a part of the transaction, Frank Fanzilli, Senior Advisor to NEXT Investors and Greg Grimaldi, Portfolio Manager, NEXT Investors at Credit Suisse Asset Management will be joining the board of the company.

Founded in 2009 by Shirish Deodhar, Swati Deodhar, Madhukar Bhatia, and Hemant Joshi, Sapience Analytics provides an enterprise workforce analytics and efficient solution which delivers visibility into work patterns and behaviour in an organization. It is being used by leaders of over 70 major customers across 12 countries to make informed decisions and improve operating efficiencies across their enterprises for staffing, workload optimization, process improvement, robotic process automation, and outsourcing governance.

Commenting on the funding, Shirish Deodhar CEO, Sapience Analytics said, “We are seeing rapid growth for Sapience in the US market. We stand to benefit from our relationship with the NEXT team and their rich industry network which will enhance our ability to accelerate further.”

“As a result of this investment, our headquarters will be relocated to the U.S., and we will continue to make strong management additions and add experienced board members to help capture a greater share of the large global enterprise market,” He added.

Pune and New York-based startup’s client base comes from Fortune Global 200 enterprises, top 50 global IT services firms, engineering, finance, and business process outsourcing companies. Besides, the company had also got into the consumer market by offering this tool for individual use. The Sapience Buddy App is an application for working professionals to better manage their time, focus and productivity.

Earlier, Silicon Valley-headquartered cloud data protection and management solutions firm Druva has raised $80 million led by Riverwood Capital. In July 2017, US-based software firm Ebix has decided to invest $100 million to make more investments and acquisitions in Indian companies, which will be via ItzCash.