Credit Suisse Asset Management’s NEXT Investors has invested an undisclosed amount in Indian software product company Sapience Analytics, a software startup which develops workforce management software called Sapience (to measure time management of employees).
The fund raised from NEXT Investors will be primarily used to accelerate Pune-based Sapience Analytics’ expansion into the US market, reports ET.
Following this investment, Frank Fanzilli, Senior Advisor to NEXT Investors and Greg Grimaldi, Portfolio Manager, NEXT Investors at Credit Suisse Asset Management will be joining the board of the company.
Exciting News – Sapience Analytics gets significant investment from NEXT Investors. https://t.co/XRy47s6yNI pic.twitter.com/REX9Jn04Oc
— Sapience Analytics (@Sapience) August 30, 2017
“We are seeing rapid growth for Sapience in the US market. We stand to benefit from our relationship with the NEXT team and their rich industry network which will enhance our ability to accelerate further,” said Shirish Deodhar CEO, Sapience Analytics.
Founded in 2009 by Shirish Deodhar (CEO and co-founder), Swati Deodhar (chief product officer and co-founder), Madhukar Bhatia (CTO and co-founder) and Hemant Joshi (chief customer officer and co-founder), Sapience Analytics provides an enterprise workforce analytics and efficiency solution which delivers visibility into work patterns and behavior in an organization.
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It is being used by leaders of over 70 major customers across 12 countries to make informed decisions and improve operating efficiencies across their enterprises for staffing, workload optimization, process improvement, robotic process automation, and outsourcing governance.
Company’s current client base comes from Fortune Global 200 enterprises, top 50 global IT services firms, engineering, finance, and business process outsourcing companies.
The company had also got into the consumer market by offering this tool for individual use. The Sapience Buddy App, is an application for working professionals to better manage their time, focus and productivity.
Earlier, Silicon valley-headquartered cloud data protection and management solutions firm Druva has raised $80 million led by Riverwood Capital. In July 2017, US-based software firm Ebix has decided to invest $100 million to make more investments and acquisitions in Indian companies, which will be via ItzCash.
Sapience Analytics: Website