Mithi Software, provider of data assurance software, has raised $500K non-dilutive capital led by Recur Club. The firm has utilised the flexibility of the Recur Club platform to raise three times in the last 11 months.
The proceeds will be deployed to optimise cash flows, enhance product offerings, and drive marketing initiatives to further expand their business, Mithi said in a press release.
Co-founded by Tarun Malaviya, Sunil Uttam, Aditi Malaviya, and Ashok Malaviya, Mithi is a provider of enterprise information archival data assurance software for businesses, offering modern SaaS tools for the protection, visibility, and agility of critical business data. It helps businesses to minimise disruptions and risks from data related threads. The company aims to build stronger relationships with customers through continuous improvements and explore opportunities for future VC raise.
According to Mithi, its future plans include bringing our new product improvements for their target market. As the company grows, Recur Club financing is their first choice for quick capital. A VC raise is also on the cards sometime in the future.
The Pune based-company claims to serve over 1 million users and having more than 7 pioneering products. Its key partners are AWS, Tikona, Hitachi, et al.