Deal Alert: IDG, Inventus invest $2-M in data analytics firm Peel-Works

IDG Ventures India and Inventus Capital Partners have invested $2 million (about Rs 12 crore) in Mumbai-based SaaS and big data analytics venture Peel-Works. Proceeds from the Series A round of funding will be used by the company, which is also backed by the Indian Angel Network, to further build its product and analytics platform, strengthen its management team and enter international markets. The company expects to have a presence in the US and South East Asia geographies in the next six to 12 months.

Founded in 2010 by Sachin Chhabra, who was earlier with Hindustan Unilever, Peel-Works counts companies such as Tata Sky among its clientele. It had earlier raised about $1 million from IAN in 2011. The company has built a SaaS based salesforce transformation and analytics platform that provides presence and performance management capabilities for companies with large extended sales force.

Source: Economic Times

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