Boston and Bengaluru-based SaaS startup MergerWare has raised an undisclosed amount of funds in pre-series A round.
The funding came from Mori Beheshti, global VP of M&A (mergers and acquisitions) at electric equipment manufacturer Schneider Electric, and Philippe Bouchet, Chief Executive Officer of baggage and freight inspection firm Visiom, as reported by VCCircle.
The funds raised will be used to boost research & development and with marketing & sales teams, along with accelerating growth in the US market.
The SaaS startup has also appointed Richard Martin, former Merill Corporation executive, as its new Chief Business Officer. With an experience of over 25 years in sales and marketing, Martin has worked with firms like Morgan Stanley and Reuters.
MergerWare, owned and operated by MergerWare corporation, was founded by Dharmendra Singh, a former Schneider Electric executive, in 2015. The startup provides a digital SaaS platform to help manage and executive M&A deal for its clients. It allows companies to run systematic deal discovery, due diligence, and post-merger integration.
Talking about the platform, Singh, said, “Our platform takes into account cultural differences and makes predictions. With the proper data, a machine learning tool will build on past experiences and provide data that accurately informs the present situation,”
He further added, “It is important to know how a company has done M&A in the past. With the knowledge, MergerWare helps companies better identify new markets, new acquisition targets, and ultimately achieve more successful integrations.”
MergerWare has raised $210,000 in angel funding across two rounds from a clutch of investors including Bouchet, former VP of Schneider Electric.