Zapty raises $500,000 from Ideaspring Capital
Bengaluru: Zapty Workplace Inc., a project management platform, has raised $500,000 in seed funding from early-stage venture capital firm Ideaspring Capital, the company said in a statement on Monday.
The firm was founded in February 2014 by serial entrepreneurs Arvind Agarwal and Sanjay Shah. Agarwal and Shah were co-founders of Skelta Software Pvt. Ltd, a business process management and workflow software solutions. The company was sold to Invensys Ltd in 2010.
Manav Garg, co-founder and chief executive officer at Eka Software Solutions, is an early investor in Zapty.
Zapty offers its customers, essentially small and medium enterprises, solutions that facilitate collaboration on projects, document review and workflow and task management, on a software as a solution basis.
“Traditional workflow solutions make it increasingly difficult to adapt to ever changing business needs. Ultimately, business ends up adapting to the tool, rather than tool adapting to the business. We are excited with our partnership with Ideaspring Capital. Their deep technology expertise will help us increase our pace of innovation, and leverage their network to better understand the market and improve adoption,” chief executive Agarwal said in a statement.
Zapty has developed proprietary micro workflows called Zaplets that can be customised for multiple sectors including retail and digital marketing. The micro workflows, which use machine learning to automate processes, can also be integrated with other SAAS products and solutions.
“Zapty offers a compelling, modern customer experience delivered with cloud-scale cost and flexibility. We are excited to be part of Zapty’s next level of growth and believe their vision and their background in workflow automation will put them at the forefront of an impending evolution into the next generation of SaaS,” said Naganand Doraswamy, managing partner at Ideaspring Capital, in a statement.
Zapty is Ideaspring’s fourth investment. The fund plans to invest in four-to-six start-ups every year and close 15-18 deals by 2019, Mint reported last year.
A tech-focused fund of Rs125 crore, the fund was launched in April 2016 by angel investors Naganand Doraswamy and Prashant Deshpande, co-founder of venture capital firm Aarin Capital T.V. Mohandas Pai, managing director of Sasken Technologies Rajiv Mody, and founders of Nirvana Venture Advisors Amit and Arihant Patni.