Business to business SaaS product firm Serosoft has secured Rs 30 crore led by SIDBI Venture Capital limited (SVCL).
Serosoft plans to deploy the funds to accelerate global growth across North America, Europe and Australia, build new features into the product and add some professionals from the ed-tech space to the team, the company said in a press release.
Founded by Arpit Badjatiya in 2008, Serosoft is an enterprise resource planning (ERP) cum student information system (SIS) which helps corporates and institutions to automate and manage the entire campus operations, administration and learning needs. The platform ensures better interaction between students, teachers, parents and institute management.
The Indore-based startup is a part of Hindustan Group of Companies and claims to have more than 300 educational clients across 20 countries. It claims to have trained 700K educators and plans to onboard 1,000 clients in the next 3-5 years.
SVCL has been the first investor in several Indian companies like Billdesk, Manthan Software Services, Skelta Software, Carzonrent, StoveKraft, Mosambee et al. Earlier this year, the homegrown VC firm announced the first close of Rs 285 crore for its Rs 500 crore Ubharte Sitaare Fund (USF). The fund is backed by leading Indian banks and financial institutions, including Punjab National Bank, Bank of Baroda, Bank of India, Union Bank of India, Indian Overseas Bank, UCO Bank, and Self Reliant India fund.