Prismforce raises $13.6 million in a Series A round led by Sequoia Capital India, offering the venture capital firm a minority stake in the business-to-business (B2B) software-as-a-service (SaaS) startup.
The funding round also saw participation from angel investors, including Somnath Chatterjee, Co-Founder and Chief Executive Officer. Prismforce has raised a total of $15.4 million including its seed funding round and the present round.
Its key product offerings include SkillPrism, IntelliPrism, OutlookPrism, and InsightsPrism, which offer skill management, talent marketplace, talent forecasting, and CXO and senior management talent dashboard, respectively.
According to the reports, Prismforce may double its current team size in the next 9-12 months. Currently, it has about 65 employees.
According to a report by Bessemer Venture Partners, the SaaS industry is projected to be valued at $50 billion in India by 2030, while highlighting that the market has now reached a critical inflection point as venture dollars deployed in the region reached $4.8 billion in 2021.