Zapty Workplace Inc., a project management startup has raised $500K from the early-stage venture capital firm Ideaspring Capital in the latest round of funding. The funding was primarily laid by Manav Garg, co-founder, and CEO, Eka Software Solutions.
The Company offers a SaaS platform to SME’s that facilitate collaboration on projects, document review, workflow and task management using artificial intelligence. The company has over 1000 customers and currently operating from Bangalore and San Francisco.
Arvind Agarwal, Chief Executive, Zapty, said, “Traditional workflow solutions make it increasingly difficult to adapt to ever-changing business needs. Ultimately, business ends up adapting to the tool, rather than tool adapting to the business. We are excited with our partnership with Ideaspring Capital. Their deep technology expertise will help us increase our pace of innovation, and leverage their network to better understand the market and improve adoption.”
The company was founded in 2014 by the serial entrepreneurs Arvind Agarwal and Sanjay Shah on a bootstrap model. Prior to Zapty, these founders had also co-founded Skelta software Pvt. Ltd., a business process management company, which was sold to Invensys Ltd. in 2010.
“Zapty offers a compelling, modern customer experience delivered with cloud-scale cost and flexibility. We are excited to be part of Zapty’s next level of growth and believe their vision and their background in workflow automation will put them at the forefront of an impending evolution into the next generation of SaaS,” said Naganand Doraswamy, managing partner at Ideaspring Capital, in a statement.
This is the fourth investment by the venture capital firm after its launch in April 2016. A tech-focused fund of Rs125 crore was set up by angel investors Naganand Doraswamy, Prashant Deshpande the co-founder of venture capital firm Aarin Capital T.V., Mohandas Pai, managing director of Sasken Technologies Rajiv Mody, and founders of Nirvana Venture Advisors Amit and Arihant Patni.