[Funding alert] Zuper raises $13M Series A investment
The funding raised by Zuper will be used to further invest in innovative product leadership, expand its extensive partner ecosystem, and invest in sales and marketing.
Zuper, provider of productivity suite for intelligent field service management and customer engagement, has raised $13 million in Series A funding. The round was led by FUSE with participation from Sequoia Capital India, Prime Venture Partners, and HubSpot Ventures. The startup has so far raised $14.1 million.
will use the new capital to further invest in innovative product leadership, expand its extensive partner ecosystem, and invest in sales and marketing.
Speaking on the funding, Anand Subbaraj, CEO, Zuper, said, “We concluded the last year with significant wind in our sails as we continue to further Zuper’s founding vision to empower service businesses with the tools and technology they need to maximise operational efficiency and provide customers with a modern, on-demand experience. As we scale and ride this momentum forward, we remain committed to helping our clients and industry partners grow their businesses and open new revenue streams in the digital economy.”
The funding comes after the company displayed significant growth in 2021. The company's annualised Recurring Revenue (ARR) grew by 7X year-over-year; it achieved 140 percent net revenue retention; added more than 100 new customers across North America, APAC and EMEA; and tripled the size of its team, according to a release.
Kellan Carter, General Partner at FUSE, said, “Zuper is making waves and driving impressive results with world class customers in an industry where digital tech innovation traditionally moves slow. The company’s product market fit coupled with a strong executive team has enabled Zuper to become a category-leading field service software provider with global scale, customer-driven growth and a robust ecosystem of partners across the entire service management tech stack. We see significant opportunities for Zuper to continue delivering tangible ROI for its customers.”
Zuper also expanded its platform with 250+ features and completed 18 new integrations with Salesforce, Oracle Netsuite, Quickbooks, Zendesk Sell, Field Nation, Zoho Suite and others that contribute to a rich field service management ecosystem.
Shailesh Lakhani, MD, Sequoia India, said,
“The shift from legacy to digital processes continues to disrupt every category, including the multi-billion dollar field service management industry. Zuper’s strategic approach to growth has enabled strong customer traction across geographies and service industries. We see Zuper’s competitive market position and value proposition only increasing as service businesses continue to adopt digital-based solutions.”
It is a intelligent field service management and customer engagement platform that is enabling hundreds of residential and commercial service businesses in industries such as cleaning, pool maintenance, landscaping, HVAC, roofing, garage repair, internet service providers, restoration, solar solutions and others to offer an on-demand experience to their customers by optimising the utilisation of a distributed field workforce.
As consumers increasingly shift loyalty and preferences to digitally-native companies that provide seamless, on-demand experiences, field service business owners are seeking solutions that facilitate customer-facing and back-end operations with reliability and ease.
“As an early investor in Zuper, it has been great to watch the company’s journey and tremendous growth over the last year,” said Shripati Acharya, Managing Partner, Prime Venture Partners. “We look forward to supporting Zuper in its next phase of growth and are pleased to expand on our previous investment and support Anand, Raghav and their team as the company continues to help its customers adapt to and navigate a rapidly changing world.”
Andrew Lindsay, Senior Vice President, Corporate and Business Development at HubSpot, said, "Today, customer experience and operational efficiency are key drivers of competitive advantage for any enterprise. Software companies like Zuper that enable this are well-positioned to win in the market and are exactly what we look for as we invest in companies that can add tangible value to HubSpot’s customer base. We’re excited to invest in the Zuper team and look forward to supporting their success in our ecosystem."
Edited by Anju Narayanan