Enterprise Workflow Collaboration (EWC) startup WorkApps, has raised a seed fund of $1million from SRI Capital.
The Pune-based company plans to roll out the product in the US, Europe and APAC (the Asia Pacific region) by the end of this year. The core management team includes Rudrajeet Desai, MVS Murthy and Shankar Borate.
The company is founded by Rudrajeet is a first-generation entrepreneur in the consumer internet and mobile industry space, while co-founder MVS Murthy is a BFSI professional.
Sashi Reddi, Managing Partner, SRI Capital forsees the next big wave for Indian startups in the Enterprise Collaboration market globally. He said, "Though there are many players in this space, none of them cater to the large enterprise market, which is where WorkApps has built a very robust and scalable product”.
Rudrajeet Desai, Founder and CEO of WorkApps mentioned that company's next phase is to roll out the product globally and creating a deeper impact for certain industries. He said,
"Enterprise Workflow Collaboration on SaaS will be a dominant force in the enterprise space and our product will enable large enterprises to augment communication efforts, improve efficiency and change the way people collaborate and work together.”
MVS Murthy, Co-founder and COO of WorkApps, said, “Enterprises have limited bandwidth and assorted knowledge to work with pure play service companies. This makes it difficult to create a one-view of the entire organization’s requirements. One of the most unique differentiators of WorkApps Inc. is our hybrid Product and Consulting model where an enterprise doesn’t need to pay an hourly development fee and yet get a lot of flexibility for customization and integration into their own systems. We co-create with our customers and pass on an ownership that is unique to each of them.”
SRI Capital, a seed-stage investor, has earlier invested in sectors including SaaS, SME and Consumer SaaS sectors in geographies like India and the US.
Last week, another company, Sirion Labs, from the same space, received a second round of funding amounting to $12.25 million which was led by Sequoia Capital. The company builds enterprise SaaS products that are focused on post-signature management of complex service contracts.