Innovapptive Inc. (“Innovapptive”), a SaaS-based Connected Worker Platform, headquartered in Hyderabad, today announced that it has raised a Series B investment led by Vista Equity Partners (“Vista”), a leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses. Existing investor Tiger Global Management also participated in the round. Innovapptive will use the investment to accelerate product innovation and reach new regional markets while further establishing its leadership position in the emerging connected worker software category.
“We look forward to this next phase of growth as we continue to define the emerging connected worker software category,” said Sundeep Ravande, Founder and CEO of Innovapptive. “Vista has significant experience scaling enterprise software businesses and emerging technologies. We are thrilled to have them lead our Series B investment and work alongside our team to advance and scale our vision, product innovation and go-to-market efforts.This partnership will enhance our platform capabilities to integrate with enterprise systems, capture actionable insights, make recommendations for productivity and safety, and close the loop between assets and people.”
The investment in Innovapptive was made by Vista’s Endeavor Fund, which provides growth capital and strategic support to market-leading, high-growth enterprise software, data and technology-enabled companies that have achieved at least $10 million in recurring revenue. Endeavor partnerships focus on growth, market strategy, talent and customer success – building enduring businesses designed to scale. Founders and management teams benefit from the expertise and support of Vista and its global ecosystem to deliver unparalleled value to their customers, unlock the potential of their employees and accelerate market leadership. Ben Benson, Senior Vice President at Vista, will join Innovapptive’s Board of Directors effective immediately.
“Innovapptive is a high-growth, emerging leader in the connected worker software category. Its mission-critical solutions satisfy the growing demand from asset-intensive industries to connect front-line and back-office data sources for enhanced business operations, well positioning the Company for long-term growth and success,” said Rachel Arnold, Co-Head of Vista’s Endeavor Fund and Senior Managing Director. “Sundeep and his team possess the vision, talent and deep institutional knowledge to shape the future of connected worker solutions; we look forward to our partnership and helping them achieve their goals,” added Benson.
