IAN reports profitable exit from Sapience

Indian Angel Network (IAN) has successfully exited from one of its portfolio companies Sapience Analytics, an innovative People Analytics solution company.

IAN co-founder Padmaja Ruparel told DH that they had a successful cash exit from Sapience and that the investors received handsome returns, without revealing more details. IAN, the global network with over 450 investors from 10 countries, in 2010 invested $350,000 in Sapience, which recently received a majority investment from Credit Suisse Asset Management’s NEXT Investors.

The NEXT investment will be primarily used to accelerate the company’s expansion into the US market.

Founded in 2009 by Hemant Joshi, Swati Deodhar, Shirish Deodhar, and Madhukar Bhatia, the Pune-based company last month relocated its headquarters to the US to cater to the global market. Its clients include IT services, BPOs, and BFSI sectors, among others.

Talking about the successful exit, Padmaja said, “It’s good to see Sapience, which offers the front-end product, going global. Exits are not easy, but we are delighted that we mentored the company that is going global.”

Padmaja added that it is necessary for investors to exit so that they can plough back more money into startups and that the industry can develop and evolve.

“Startups are job creating industry,” she said.

Prior to this exit, IAN exited from Bengaluru-based InstaSafe within 18 months of its investment, and in June this year, it had a profitable exit from Wow! Momo with an IRR of 50% in less than 18 months.