Academia ERP By Serosoft Gets INR 30 Crore Funding From SIDBI Ventures
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A B2B enterprise SaaS product company Serosoft Solutions Pvt Ltd (Serosoft), based out of Indore received funding of INR 30 crore from SIDBI Venture Capital Limited (SVCL). Serosoft’s flagship product, Academia ERP is a comprehensive and leading-edge ERP/ Student Information System (SIS) to manage all educational and administrative activities. It helps educational institutions across the spectrum viz: universities, colleges, schools to track the entire student lifecycle, assess students and analyse results and their progress, and bring all stakeholders across the education eco-system on one unified, platform.
The company was founded by Arpit Badjatya in 2008 after he completed his education at Purdue University USA and IIM-Calcutta, and corporate experience at JP Morgan London and Accenture Strategy India. Siddharth Badjatiya subsequently joined the team as the COO after his Master’s at USC Los Angeles and corporate experience at Goldman Sachs. The new version of the product Academia was developed in 2015, for the global markets. Serosoft has bootstrapped to being a high-growth and profitable company thus far.
Commenting on the development Arpit Badjatya, CEO, Serosoft, said, “The company has more than 300 educational clients across 20 countries and is looking to reach 1000 clients in the next 3-5 years. Further Arpit adds that, Academia is robust, feature-rich, analytics-equipped, user-friendly product enabling digital transformation in educational institutions across learning and administration functions. We are seeing rapid adoption of Academia across multiple countries, where we are taking some of the bigwigs of our sector head-on. Customers love us for our leading-edge technology, rich features, advanced reporting, ease-of adoption, great customer service and value-driven approach.”
Its investment banker and advisor, Amit Pamnani, Chief Investment Officer at Swastika Investmart Ltd. informed that this is a Series A round of funding at an undisclosed valuation; the company will use these funds to accelerate global growth across key markets in North America, Europe and Australia, build exciting new features into the product & add some seasoned professionals from the Ed-Tech space to our growing team. There is no dearth of funds in the market for scalable & sustainable startups. This is our fourth start-up funding transaction in the last 12 months.
Talking about this initiative, SP Singh, CEO of SIDBI Venture said, “We are happy to partner with Serosoft, India’s leading Education ERP/SaaS company catering to top customers globally. We believe that founders have built a great sustainable business and are primed to expand globally and become a globally competitive player. This is our second investment out of “Ubharte Sitaare Fund”, the fund for MSMEs focused on scaling up in the export markets. Wishing them all the best”.
SIDBI Venture Capital Limited (SVCL) a wholly-owned subsidiary of the Small Industries Development Bank of India (SIDBI), is an investment manager managing Securities and Exchange Board of India (SEBI) registered domestic Venture Capital Funds
SVCL has been the first investor in several well-known Indian companies (in their respective areas) like IndiaIdeas.com (better known as Billdesk – largest e-payments enabler in India), Manthan Software Services (Software products – Retail Analytics), Skelta Software (BPM middleware), Carzonrent (car rental/radio taxi services – COR, Easycabs), Stovekraft (Pigeon and GILMA brand kitchen appliances), Mosambee (POS Payment solutions provider) etc.