The Chennai-based Saas startup, Paperflite announced that it closed a $400K seed funding round led by the Chennai Angels. According to a statement released by the company, the funding round saw participation from Girish Mathrubootham (Founder and CEO of Freshworks), T R Santhanakrishnan (CEO of Datatracks and ex-CFO of Sutherland Global Services), and Mithun Sancheti (CEO of Caratlane) as well as other members of the Chennai Angels. Furthermore, the round also witnessed participation from Like Mind Ventures led by Krishnan Srinivasan and an HNI group led by Adrian Rusu from Singapore, both of whom will also join the Board of Directors as Observers according to the press note released.
“Sales and Marketing is witnessing a massive Digital transformation to enable businesses create an engaging buying experience for their customers at every touch point. I’m excited on the Paperflite team’s well-rounded experience to execute on this mission and their ability to translate this market opportunity to solve a critical problem of how companies interact with their prospect,” stated Lakshmi Narayanan, who is the ex-Vice Chairman and ex-CEO of Cognizant and was a participant in the funding round.
The startup was founded in 2016 by former Cognizant executives Vinoth Kumar, Yega Kumarappan and Anant Bhat. The firm’s digital platform creates marketing content that sales representatives can employ in their sales pitches. Content in the form of power point presentations, PDF documents, blogs etc are presented in a single set to clients. In addition to this sales teams can also track how a prospective client is engaging with the shared content and who they are sharing it with internally. This allows the sales team to come up with the best follow up action as a response.
The startup is headquartered in New York and operates via a wholly owned subsidiary in Chennai, which houses an engineering team, sales team and marketing team. The company has a customer base of over 20 enterprise clients spread across the US, Australia and Europe. In India, however, the company regards Freshworks and Datatracks as a part of its customer base.
The startup aims to expand its operations to the US and Europe. “From an industry perspective, we are looking to get into technology, financial services and life sciences, pharmaceutical and medical devices,” said Vinoth Kumar, Co-founder and CEO of Paperflite was quoted in a news report. The company plans to employ the current influx of funds toward expanding its existing set of product offerings to suit multiple industries as well as to scale up its marketing and sales on a global level.
“With the right technology and objectives, I believe that Paperflite impeccably meets the essential requirements of the marketing and data world. With its affordable cost to small businesses it shall help them drive higher growth,” said KS Vishwanathan, who is Vice President, Industry Initiatives at NASSCOM.
(Picture Courtesy: SutraHR)