Innovapptive Secures Series B Funding Led by Vista Equity Partners for Growth
Innovapptive announces Series B funding led by Vista Equity Partners to accelerate product innovation and market expansion in the connected worker software sector, transforming industries worldwide.
Tuesday May 09, 2023,
2 min Read
Innovapptive Inc., a leading provider of SaaS-based Connected Worker Solutions, announced that it has raised a Series B investment led by Vista Equity Partners, a global investment firm focused on enterprise software, data, and technology-enabled businesses. The funding round also saw participation from existing investor Tiger Global Management. will leverage the investment to accelerate product innovation, expand into new regional markets, and strengthen its position in the emerging connected worker software category.
Innovapptive's Connected Worker Solutions enhance asset uptime, worker productivity, safety, training, and compliance across industries such as energy, mining, metals, utilities, chemicals, and industrial manufacturing. The company's patented no-code platform bridges the gap between operations, maintenance, and warehouse teams by connecting front-line workers, assets, and back-office data sources. Innovapptive's platform is used by several Fortune 500 asset-intensive companies.
Sundeep Ravande, Founder and CEO of Innovapptive, expressed excitement about the partnership with Vista, noting their experience in scaling enterprise software businesses and emerging technologies. The collaboration aims to advance and scale Innovapptive's vision, product innovation, and go-to-market efforts while enhancing platform capabilities to integrate with enterprise systems, capture actionable insights, and improve productivity and safety.
Vista's investment was made through its Endeavour Fund, which supports high-growth, market-leading enterprise software, data, and technology-enabled companies that have achieved at least $10 million in recurring revenue. Ben Benson, Senior Vice President at Vista, will join Innovapptive's Board of Directors effective immediately.
Rachel Arnold, Co-Head of Vista's Endeavour Fund and Senior Managing Director, praised Innovapptive as a high-growth, emerging leader in the connected worker software category, highlighting the company's potential for long-term growth and success.
Headquartered in Houston, TX, with offices in Australia and India, Innovapptive provides a patented no-code connected worker platform and an integrated suite of apps that seamlessly integrate with enterprise ERP, EAM, and APM systems. The platform enables improved operational efficiency, safety, compliance, asset uptime, and reliability for some of the world's largest asset-intensive customers.
Vista Equity Partners is a leading global investment firm with over $96 billion in assets under management as of December 31, 2022. The firm focuses exclusively on investments in enterprise software, data, and technology-enabled organisations across various strategies and aims to create enduring market value for its global ecosystem of investors, companies, customers, and employees.