 "InsideView Inc to invest $25 mn in India operations")
InsideView Inc, a US-based enterprise software-as-a-service (SaaS) company, today said it would infuse $25 million (around Rs 165 crore) into its India business over the next three years for accelerating sales and marketing efforts in India, besides fueling the growth of its expanding product portfolio.
The privately-held company, which has its global development centre employing 200 professional in Hyderabad, has invested over $20 million in its India business over the last eight-and-a-half years. It has scaled up its India operations to include sales and marketing a year ago.
"We believe that the Indian market is now ripe for our API (application programming interface) products. We are expecting to grow our India sales operations by 500% over the next one year, and increase our India clientele base to more than 100," Jim Lightsey, chief financial officer of InsideView, told mediapersons here.
InsideView, which has 19,000 clients globally, had in July this year raised $32.5 million in a new equity and debt funding round led by Spring Lake Equity Partners, taking its total funding to over $80 million.
"We are open to acquisitions that will add complementary capabilities," Lightsey said, adding that the company was looking at tapping the capital markets via an initial public offering (IPO) as a future potential.
