Vertex, IDG and Endiya partners invest $4 Mn in Hansel.io

Hansel

Mobile application management platform Hansel.io has raised $4 million in a round led by Vertex Ventures. Existing investors of the Bengaluru-based startup such as IDG Ventures India and Endiya Partners also participated in the financing round.

A major part of the proceed will be deployed towards overseas expansion especially in the United States. Besides, it is planning to hire in engineering and sales.

Founded in 2015 by former product and engineering leads from Zynga, Disney, and Flipkart and ex-entrepreneurs, Hansel has developed a system, called Hansel’s Experience Lake that decouple any user experience from code and provide access to business users who can iterate and personalize without tech dependencies.

Available on both Android and iOS, it allows mobile developers to fix bugs, update configurations, edit user interfaces, and manage security policies of mobile apps.

Hansel can be integrated with any existing A/B testing and personalisation setup.

The company claims to manage a total installed base of 250 million, across clients such as Paytm, Yatra, Zoomcar, Mobikwik, redBus, among others.

According to Varun Ramamurthy, CEO of Hansel.io, the company will set up a sales team in North America and it has hired a VP of sales also. Currently, most of our revenues for Hansel come from India and Southeast Asia, he added.

In January, last year, Hansel.io had raised $1.35 million led by IDG with participation from Endiya. Prior to that, it raised an undisclosed amount in seed fund round in February 2016 from Endiya and  Tracxn Labs with participation from a clutch of angel investors.

The lead investor in Hansel, Vertex Ventures is an early age investor backed by Singapore-based Temasek. In October 2017, it had raised $210 million in its third fund, exceeding its target of $150 million for its Southeast Asia and India fund SEA III.

In March, this year, the VC fund had led $5 million round in cloud-based hotel property management system provider Hotelogix.

The development was reported by ET.

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here