IAN Exits Sapience With Investment from Credit Suisse Asset Management’s NEXT Investors
Sapience, today, is helping more than 100,000 users and over 70 enterprises across 12 countries to move the needle on employee engagement, organizational productivity, and business profitability.
Shirish Deodhar, CEO and Co-Founder of Sapience Analytics
Sapience Analytics, an innovative People Analytics solution company, announced a majority investment from Credit Suisse Asset Management’s NEXT Investors. This also provided a highly profitable exit to IAN investors.
With a vision to transform people, processes and productivity, Sapience is a market leader in People Analytics and provides a unique enterprise workforce analytics and efficiency solution. Harish Mehta, Founder, Onward Group, Co-founder, NASSCOM led the IAN investment round in 2010.
IAN investor Harish Mehta commented, “I remember we signed the term sheet for Sapience in a record 12 days which in itself is an affirmation of the business potential we saw in Sapience. We are delighted that a product originating from India is now a player on the global platform. And more importantly, this investment transaction is a huge stepping stone for Indian start-ups to navigate complex cross border transaction, under the able guidance of IAN. This does create an aspiration for young Indian entrepreneurs to target global ecosystems.”
“This new partnership with NEXT promises a rapid growth for Sapience. Our early partnership with IAN prepared and catapulted us for the global play. IAN truly played the “angel” role with their valuable mentoring and access to global market. Our subsequent investors, Seed Enterprises and Orios Ventures, also played a major role. We are excited to have forged a path for Indian product companies to target the global market place. While IAN and other investors have exited, we do believe they will support and help Sapience as it starts its “NEXT” chapter”, said Shirish Deodhar, CEO and Co-Founder of Sapience Analytics.
“Measuring office productivity has been a challenge for managers. It was quite natural that a software product that does this would originate in India, a country with vast BPO and software industry whose global customers are keen to have transparency and visibility into productivity for their remote team. After pioneering and successfully covering the Indian market, Sapience has taken its product to the large markets of the US and Europe, where it has met a tremendous response. A growing sign of how software engineered in India is being increasingly accepted internationally,” commented Rehan Yar Khan, Managing Partner, Orios Venture Partners and IAN member.
“Sapience has always been a nimble and adaptive company, led by a dynamic Founder, Shirish. Strategising Sapience’s journey through the years has today been endorsed by this global partnership”, commented Rajan Anandan, Managing Director, Google – India and IAN member
Sapience Analytics – Made in India, Gone Global
Sapience Analytics, is the creator of an enterprise class solution designed to increase productivity and deliver ‘automated work visibility’ across the enterprise hierarchy – with no added user or managerial effort. Established in Pune in 2009, the company will now be headquartered in the US.
Sapience was founded with a vision to transform people, processes, and productivity. With dashboards that deliver insights about how time is spent, people are able to budget time more effectively.
Sapience, today, is helping more than 100,000 users and over 70 enterprises across 12 countries to move the needle on employee engagement, organizational productivity, and business profitability. The company’s current client base comes from Fortune Global 200 enterprises, top 50 global IT services firms, engineering, finance, and business process outsourcing companies.
After bootstrapping for the first year and a half, Sapience Analytics received funding first from the Indian Angel Network in the amount of $350,000 in July 2010. Post this, the product technology start-up raised INR 4.5 Cr in Series A funding from Seed Ventures in 2012 and INR 9 Cr in Series B funding from Orios Venture Partners in 2014.
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