InnovizeTech Software announced today that it has closed a Series A investment of Rs. 4.5 crore from newly established Seed Enterprises. It has previously received angel funding from Indian Angel Network.
InnovizeTech makes Sapience, an enterprise productivity software tool. Sapience’s key USP is that it delivers automated visibility into Enterprise Effort. It is cloud based, though an on-premise option is available for large enterprises. The client portfolio is expanding rapidly, and currently includes large and medium IT Services firms like Zensar, product ISVs (IDeaS, Bio-Analytical Technologies), KPOs (SG Analytics), and Engineering Services companies such as EnVenture and Excelize.
The funding is intended to further accelerate the growing customer base, add advanced features as desired by key customers, and undertake R&D for higher value addition for Sapience users. Accompanying their investment of Rs. 4.5 crore, Mitesh Bohra has joined the Board of Directors, and Avinash Sethi is now part of the executive management team as Chief Marketing Officer. Mitesh and Avinash, along with Siddharth Sethi are Directors of Seed Enterprises, and are entrepreneurs having previously co-founded InfoBeans Systems.
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