ET BureauMUMBAI:Global venture capital funds Vertex Ventures, IDG Ventures and Cisco Ventures have picked up a significant minority stake in CloudCherry, a SaaS-based platform for customer experience management owned by Customer Analytics Technologies, for $6 million.
The series A funding will be used to expand business outside India in markets such as the US, Southeast Asia and West Asia, company executives said.
Founded by Vinod Muthukrishnan, Vijay R Lakshmanan, Prem K Viswanath and Nagendra CL, CloudCherry had earlier raised angel funding from Girish Mathrubootham of Freshdesk among others. Since its first client in 2014, the company has seen a year-on-year revenue growth of 7x. “The company is looking at expanding its footprint in the North American market and will also enter the Southeast Asian market,” Vinod Muthukrishnan, COO at CloudCherry, said in an exclusive interview with ET.
“The Series A funding is all primary capital and none of the existing angel investors will exit through this round,” Muthukrishnan added. The $6 million raised by CloudCherry is the largest series A for a SaaS startup this year, as against the general funding slowdown that Indian startups are seeing. CloudCherry provides an Omni-channel, SaaS-based customer experience management (CEM) platform that helps brands track, measure and improve customer experience.
The series A funding will be used to expand business outside India in markets such as the US, Southeast Asia and West Asia, company executives said.
Founded by Vinod Muthukrishnan, Vijay R Lakshmanan, Prem K Viswanath and Nagendra CL, CloudCherry had earlier raised angel funding from Girish Mathrubootham of Freshdesk among others. Since its first client in 2014, the company has seen a year-on-year revenue growth of 7x. “The company is looking at expanding its footprint in the North American market and will also enter the Southeast Asian market,” Vinod Muthukrishnan, COO at CloudCherry, said in an exclusive interview with ET.
“The Series A funding is all primary capital and none of the existing angel investors will exit through this round,” Muthukrishnan added. The $6 million raised by CloudCherry is the largest series A for a SaaS startup this year, as against the general funding slowdown that Indian startups are seeing. CloudCherry provides an Omni-channel, SaaS-based customer experience management (CEM) platform that helps brands track, measure and improve customer experience.
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