Sapience Analytics today announced that it has closed a Series B investment of Rs 45 crore raised from Orios Venture Partners. The company has previously received funding from Indian Angel Network and Seed Enterprises.
Sapience, which provides employee productivity improvement solutions to enterprises, intends to use the funding to further accelerate its customer base, by augmenting sales and marketing in the Americas, reaching out to new segments in the professional and mobile workforce categories, and expanding product capabilities for higher value addition to Sapience customers.
"When it is so rare to see software products coming out of India, Sapience is a great example of the new breed of innovative and successful Indian product firms. With an impressive growth to 100,000+ users across seven countries and over 60 customers, including five of India's top ten IT companies, four Fortune Global 200 and several billion dollar enterprises, Sapience is undoubtedly the leader in workforce effort analytics space, especially in India. Our investment is aimed at expanding their market reach, and ensuring that Sapience Analytics rapidly achieves global prominence," said Rehan Yar Khan, Managing Partner, Orios Venture Partners.
As a patent-pending product, Sapience backed with insights obtained from analysis of more than 100 million work hours across diverse companies.
Sapience helps individual employees to adopt improved work habits that lead to Work-Life Harmony, claims the company. Sapience customers span a broad range of verticals including IT Services, Global ISVs, BPOs/KPOs, Engineering Design, Financial Services, and for Outsourcing governance.
"Globally, more and more knowledge workers are becoming increasingly conscious about the need for mindfulness at work. Sapience has pioneered a unique concept of Sapience Work Yoga which helps employees achieve much more at work with reduced stress. Our customers are realising over 20% gain in productivity and the ability to sustain optimal delivery outcome through improved quality of effort, and happier employees. The series B funding validates our product vision, execution and business strategy so far, and provides the impetus to raise it to the next level," said Shirish Deodhar, Co-founder and CEO of Sapience Analytics.
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