The Indian Wire » Startups » SaaS startup Hiver raises 30 crores from Kalaari and Kae Capital

SaaS startup Hiver raises 30 crores from Kalaari and Kae Capital

Silicon Valley and Bengaluru-based SaaS startup Hiver has raised around ₹30 crores ($4 million) in a fresh funding round led by venture capital firms Kalaari Capital and Kae Capital.

The funds raised will be used to develop the product, along with expanding the global customer base.

Niraj Ranjan Rout, Founder of Hiver, said, “With this investment, we will fuel our efforts to realise our vision of making Gmail a powerful collaboration platform that businesses can use for sales, support and their internal functions.”

As part of the deal, Gaurav Chaturvedi, Venture Partner at Kae Capital, and Rajesh Raju, Managing Director of Kalaari Capital, will join Hiver’s board.

Hiver, owned and operated by GrexIt was founded by two IIT Kharagpur alumni Niraj Ranjan Rout and Nitesh Nandy in 2011. The startup provides a Gmail-based email collaboration platform, enabling businesses to manage emails sent to shared inboxes like [email protected], [email protected], and [email protected]

Niraj Ranjan Rout, said, “We have been profitable and growing rapidly, and we see a huge product and business opportunity in enhancing Gmail to make it work better for businesses.”

The startup claims to have more than 2,000 clients across 30 countries, managing more than 1 million emails every day. The startup further claims to have doubled its revenue in the last 10 months.

Hiver last raised $130,000 in seed funding from the Citrix Startup Accelerator and Paytm founder Vijay Shekhar Sharma in 2012.

Other players competing with Hiver in the international market are Salesforce, HelpScout, and Microsoft Dynamics, while its local rivals include Zoho, and Freshworks, among others.

Earlier in July 2018, Freshworks raised $100 million in series G round led by Accel Partners and Sequoia Capital, along with participation from CapitalG. The latest funding valued the SaaS-based startup at $1.5 billion, making it a unicorn.

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