Hevo, a SaaS company, has raised $30 million in a Series B investment led by Sequoia Capital India
Nggawe Nirman Technologies (NNT), a cloud-native app development business based in Bengaluru that helps clients build platforms, was purchased by Infogain on Thursday.
Hevo Data, a data management SaaS firm based in San Francisco and Bengaluru, has secured $30M in a Series B financing led by Sequoia Capital India. Qualgro, Lachy Groom, Chiratae Ventures, and angel investors were among the other investors in this round.
Hevo intends to use the proceeds from this fundraising round to fund sales and marketing initiatives, product development, and the hiring of teams in the United States and Europe.
Hevo’s no-code platform, founded in 2017 by Manish and Sourabh Agarwal, is based on self-serve technology, which can accept data from many sources and combine it into a single perspective.
“We are very well-capitalised but given the large market opportunity and the high growth momentum — growing 500 percent in the past year, we received strong interest from the market and thus, decided to partner with Sequoia Capital India for our Series B,”Manish Jethani, Co-founder and CEO of Hevo Data
Hevo also expects to release its second product, “Reverse ETL,” early next year. According to the firm, the additional infrastructure will enable clients to use their data for purposes other than analytics, allowing companies to make real-time decisions in day-to-day operations.