Two Indian-American IITians who own a startup company in the United States, Riversand Technologies, has raised USD 35 million in the growth capital in order to extend the company’s global expansion, including India.
The startup is basically a master data and also a product information management company. And they have recently announced the Series A investment, which is a company’s first significant round of the venture capital financing, led by the Crestline Investors.
Through Master Data Management (MDM) 2.0 vision, Upen Varanasi, CEO of the Riversand says they want their capital investment will be used to strengthen the company’s foundation in the core verticals, accelerate growth in various targeted geographies and also enter into new markets through the product innovation, sales and marketing.
The company is also looking at hiring passionate software creators and disruptive thinkers in the Big data, ML and AI technology space to join our innovation hub in Riversands Bengaluru office.
Early on Upen also plans acquire more number of retail and manufacturing customers in India after this capital funding. The startup company serves the leading global enterprises in retail, manufacturing, distribution, energy, healthcare, and also food services.
The startup company founded by two Houston-based Indian-Americans Upen and Anil Kini in the year 2001, Riversand, headquartered in the Houston, has its offices in India (Bangalore), London, Germany, Switzerland and also Sydney.
The company has seen the significant growth, increasing its revenue at more than 25 per cent compound annual growth rate (CAGR) over the past 6 years.