Indian Angel Network, with over 200 highly influential members, comprising India’s most successful entrepreneurs and dynamic CEOs, has invested US$1 million in priced bridge round in OrangeScape. OrangeScape is a leading, Chennai-based Platform-as-a-Service (PaaS) provider inIndia.
Founded by CEO Suresh Sambandam and CTO Mani Doraisamy,OrangeScape provides Visual Platform as a Service (PaaS), a modeling driven visual development and deployment environment for creating business applications. OrangeScape is the only cross-cloud provider in the world that supports all major public cloud platforms.
With this funding, OrangeScape plans to expand its services to mature economies likeUSA,UKandWestern Europe. Additionally, the company will focus on US based marketing, sales, customer support and remove any geographical, psychological and enterprise support related barriers that exist in US and Europe.
OrangeScape’s patented rule engine technology can be leveraged by both large enterprises and Independent Software Vendors building SaaS as well as “Enterprise PaaS”. The Visual PaaS platform is particularly suitable for high volume enterprise usage giving a superior price-performance edge.
OrangeScape, that has customers and partners spread across India, USA, UKand Europe, features in the list of Global 10 Cloud PaaS providers, by IT intelligence firms Forrester and Gartner. Forrester expects the PaaS market to reach $11.9 billion by 2020, up significantly from the $820 million in 2011.
Suresh Sambandam said, “Using funds from IAN and the network strength of Members of the Indian Angel Network, we are now set to add global enterprise customers aggressively. With the strength of our technology we will quickly move up in the Global Top 10 Platform as a Service listing.”
OrangeScape’s major enterprise customers include United Biscuits, Unilever, AstraZeneca, Citibank,Fullerton, Geojit, IndiaInfoline, Pfizer and Sterlite.
IAN investors also build a strong foundation for their investee companies, helping them with their key management, introduction of customers, building global footprint, and assist in the next round of investments or acquisition by global players.