Ashish Tripathi

💼 Clientell Raises $2.5 Million to Enhance Revenue Operations. 📜 SUMMARY: Clientell, an AI-powered SaaS startup, secures $2.5 Mn in a seed funding round led by Blume Ventures, with participation from Chiratae Ventures, Artha Venture Fund, and Z5 Capital. Founded in 2021, Clientell assists businesses in enhancing revenue generation efficiency by leveraging AI copilots to optimize go-to-market (GTM) execution and streamline pipeline governance and forecasting. The startup plans to utilize the fresh capital to bolster its product development efforts and expand its team. 🔑 KEY POINTS: - Clientell's AI-driven platform targets Chief Revenue Officers and Go-to-market leaders, aiding them in making data-backed decisions to streamline business strategies. - The investment marks Blume Ventures' expansion into the AI space and reflects growing investor interest in AI startups within the revenue operations segment. - With the backing of prominent venture capital firms, Clientell aims to further develop its AI capabilities and extend its reach in assisting growth-stage SaaS companies and large enterprises. 🚀 IMPACT: - The funding underscores the potential for AI-driven solutions to revolutionize revenue operations, offering businesses enhanced insights and predictability in sales processes. - Clientell's focus on empowering sales teams with deeper insights and comprehensive revenue intelligence aligns with evolving market demands for AI-powered business solutions. 🔮 OUTLOOK: - As AI adoption continues to permeate enterprise functions, Clientell is poised to capitalize on the growing demand for AI-first solutions in revenue operations. - With the momentum gained from this funding round, Clientell is well-positioned to drive innovation and provide value to businesses seeking to optimize their revenue generation processes. Clientell #Clientell #SeedFunding #AI #SaaS #RevenueOperations #BusinessIntelligence #GrowthStage #VentureCapital #StartUpNews #BusinessNews #MicroShots #NewsUpdates

Teachmint revenue grows 2X in FY24, losses down to Rs 82 Cr: SaaS-based edtech firm Teachmint improved its financial performance in the last fiscal year, doubling its operating scale while reducing year-on-year losses by more than 39%. However, the Lightspeed-backed company has yet to achieve significant scale. Teachmint’s revenue from operations spiked to Rs 17.1 crore in the fiscal year ending March 2024 from Rs 8.15 crore in FY23, its consolidated financial statements sourced from the Registrar of Companies show. Teachmint sells education software solutions through subscriptions to schools and teachers. The sale of software solutions accounted for 73% of the operating revenue which increased by 56% to Rs 12.5 crore in FY24. The rest of the income is derived from the sale of devices like biometrics, interactive flat panels, GPS devices, among others. The Bengaluru-based company firm managed to control its overall cost, reduced by 26.6% to Rs 160 crore in FY24 from Rs 218 crore in FY23. Key areas of cost reduction include employee benefits, marketing, and IT which dwindled by 21.2%, 63.6%, and 9.1% respectively. See TheKredible for a detailed expense breakup. The 2X surge and controlled expenditure helped Teachmint reduce its losses by 39.2% to Rs 110 crore during the last fiscal year from Rs 181 crore in FY23. Excluding non-cash ESOP costs, the company’s losses stood at Rs 82 crore for the fiscal year ending March 2024. Its ROCE and EBIDTA margins stood at -24.7% and -198%, respectively. On a unit level, the company spent Rs 9.36 to earn a rupee in FY24. Importantly, the firm has a total current assets of Rs 440 crore including Rs 34 crore of cash and bank balances in the last fiscal year. The company’s transformation from pre-revenue to a significant revenue jump is largely driven by shifting its focus to digitize schools. Entrackr reported about the strategic move in April last year. Teachmint faced significant challenges in FY24, including laying off over 70 employees. It has raised over $100 million in funding, with a $78 million Series B round in October 2021 at a valuation of $500 million. However, it has not raised any additional funding in the last three years. Its competitor Classplus achieved a two-fold revenue increase to Rs 213 crore in FY24, while its newer rival, Lead School, recorded 25% growth to Rs 370 crore in revenue in the same period. #Teachmint #SaaS #EdTech

💼 UnifyApps Secures $11 Mn to Revolutionize Enterprise Operations. In a significant stride towards enhancing enterprise efficiency, software integration startup UnifyApps has successfully raised $11 million (INR 91.5 Cr) in a seed funding round. Here's a breakdown of the key highlights: 🚀 Funding Round Details: - Led by Elevation Capital, the funding round witnessed enthusiastic participation from the founders and angel investors, underscoring confidence in UnifyApps' vision and potential. - The substantial funding injection will fuel the development of a unified integration platform designed to empower enterprises with accelerated app creation, streamlined workflows, and real-time data synchronization. 📈 Vision and Expansion Plans: - UnifyApps is on a mission to expand its platform's capabilities to support over 5,000 applications, leveraging advanced generative AI and large language models (LLMs) to develop cutting-edge integration agents. - By automating workflows and facilitating seamless connectivity between diverse software tools, the platform aims to revolutionize enterprise operations, fostering agility, efficiency, and productivity. 🌐 Unified Integration Platform: - At its core, UnifyApps offers a unified integration platform that empowers enterprises to develop custom applications rapidly, automate complex workflows, and synchronize data across applications in real time. - Leveraging advanced generative AI, the platform enables the creation of specialized LLM-powered agents, optimizing integration processes and driving operational excellence. 🎯 Client-Centric Approach: - UnifyApps prioritizes client satisfaction by delivering solutions that offer superior return on investment (ROI) and lower total cost of ownership (TCO). - With a focus on serving large enterprises globally, the company is committed to enhancing customer experiences and empowering organizations to thrive in a dynamic digital landscape. 📊 Market Insights: - The strategic funding comes amid rapid advancements in the enterprise tech segment, reflecting growing investor interest in innovative solutions that redefine operational paradigms. - As per industry forecasts, the India cloud computing market is poised to reach $35.15 billion by 2033, driven by a robust compound annual growth rate (CAGR) of 18.54%. UnifyApps' successful funding round underscores its potential to disrupt the enterprise software landscape, driving digital transformation and fostering a culture of innovation. With a relentless focus on empowering organizations with seamless integration solutions, UnifyApps is poised to redefine the future of enterprise operations. UnifyApps #UnifyApps #EnterpriseIntegration #StartUpNews #BusinessNews #MicroShots #NewsUpdates

Fintech unicorn Perfios PAT surges over 9X to Rs 72 Cr in FY24: SaaS-based B2B fintech firm Perfios has continued its growth streak in the fiscal year ending March 2024. The company registered 37.1% year-on-year growth in its revenue which crossed the Rs 550 crore threshold in FY24. Moreover, its profit surged over 9X in this period. Perfios’ revenue from operations grew to Rs 557.8 crore in the last fiscal year (FY24) from Rs 407 crore in FY23, its consolidated financial statements filed with the Registrar of Companies (RoC) show.  Perfios provides revenue analysis, fraud checks, verification, and automated customer onboarding to financial institutions in verticals including consumer lending, SME lending, and wealth management. The company claims to have a presence in 18 countries and to have powered over 1,200 institutions with its offerings.. Its income from services increased by 29.3% to Rs 472.2 crore in FY24, while earnings from software coding and maintenance spiked 100% to Rs 82 crore during this period. The Kedaara Capital-backed company collected Rs 3.57 crore from subscription fees. Perfios also made Rs 11 crore from gain on investment and bank deposits which propelled its total revenue to Rs 569.47 crore in FY24. With Rs 291.16 crore, employee benefits costs for Perfios rose 36.4% year-on-year in FY24. Legal, professional, technology including other overheads jumped to Rs 161 crore from Rs 128.8 crore in FY23. Costs incurred on depreciation and amortization increased 13.1% to Rs 36.3 crore from the previous year’s Rs 32.1 crore.  Ultimately, the company’s total expenses spiked 28.3% to Rs 495.5 crore in FY24 from Rs 386.4 crore in the previous fiscal year. On a consolidated basis, Perfios’ profit after tax (PAT) zoomed 9.2X year-on-year to Rs 71.67 crore in FY24 from Rs 7.79 crore in FY23. Notably, it reported a standalone profit of Rs 57.19 crore in the said fiscal. Its ROCE and EBITDA margins improved to 7.07% and 20.58%, respectively. On a unit level, it spent Rs 0.89 to earn a rupee in FY24. As of FY24, the company held Rs 255.28 crore in cash and cash equivalents, along with an additional bank balance of Rs 119 crore. It also had receivables totaling Rs 143.33 crore at the end of the last fiscal year. According to startup data intelligence platform TheKredible, Perfios has raised Rs 3,644.45 crore in total funding across several rounds. The company raised Rs 662 crore ($80 million) from Kedaara Capital in March 2024 at a valuation of over $1 billion. It emerged as the second unicorn of 2024 from India. The company acquired fintech startup Karza Technologies in a deal worth Rs 600 crore during March 2022. The numbers from the fintech firm are certainly beginning to show just why it is so highly valued and regarded. Being comfortably profitable will be an added advantage as it seeks to maintain the momentum in the competitive and… #startupnews #startups

Startup Central | Libas: Funding to help build omnichannel presence Sidhant Keshwani, Founder & CEO, sheds light on the latest fundraise, revenue target, expansion plans and more Avanne Dubash Libas Sidhant Keshwani