Bengaluru based Startup MoveInSync Raised $15 million in Series C Funding
A Bengaluru based SaaS platform MoveInSync, which has specialization in workplace commute, has recently raised $15 million in a Series C round from Bessemer Venture Partners. The funding round was assisted by The RainMaker Group (TRMG), a secondary stake sale advisory firm.
The company will use the funds expand its presence throughout the country. The company provides comprehensive commute solution covering fleet, operations, and technology. This platform aims to provide enterprises with a cost-effective and efficient commuting solution for their employees.
The Co-founder and CEO of MoveInSync, Deepesh Agarwal, said, “While we have been consistently growing among the IT, ITES, and Banking and finance sectors, the government’s initiatives to manufacture in India have created a significant opportunity for us. At the same time, with more women joining the workforce, the need for safe and secure commute cannot be compromised.”
The partner at Bessemer Venture Partners, Vishal Gupta, expressed their delight and said, with its software-enabled full stack mobility platform, has the potential to establish itself as the go-to solution for enterprises seeking to ensure an effortless office commute experience for their employees.
MoveInSync’s Series C round was supported by existing investors such as Saama Capital, Qualcomm Ventures, Athera Venture Partners, and Nexus Venture Partners. This fund will help MoveInSync’s 800-member team to enhance fleet optimization capabilities, expand global operations, and target new markets, including the Philippines, South Africa, and the Middle East. Besides, a portion of the funds will be allocated for employees to liquidate their Employee Stock Ownership Plans.
The CEO Deepesh Agarwal expressed his unwavering happiness and positive hope about the company’s growth trajectory, and quoted, “Moreover, companies are increasingly embracing ESG initiatives, and MoveInSync has been fulfilling this mandate for all our clients for the last 24 months. With Bessemer Venture Partners backing our initiatives, we look forward to crafting a rapid 2024 growth story.”
The company will use the funds expand its presence throughout the country. The company provides comprehensive commute solution covering fleet, operations, and technology. This platform aims to provide enterprises with a cost-effective and efficient commuting solution for their employees.
The Co-founder and CEO of MoveInSync, Deepesh Agarwal, said, “While we have been consistently growing among the IT, ITES, and Banking and finance sectors, the government’s initiatives to manufacture in India have created a significant opportunity for us. At the same time, with more women joining the workforce, the need for safe and secure commute cannot be compromised.”
The partner at Bessemer Venture Partners, Vishal Gupta, expressed their delight and said, with its software-enabled full stack mobility platform, has the potential to establish itself as the go-to solution for enterprises seeking to ensure an effortless office commute experience for their employees.
MoveInSync’s Series C round was supported by existing investors such as Saama Capital, Qualcomm Ventures, Athera Venture Partners, and Nexus Venture Partners. This fund will help MoveInSync’s 800-member team to enhance fleet optimization capabilities, expand global operations, and target new markets, including the Philippines, South Africa, and the Middle East. Besides, a portion of the funds will be allocated for employees to liquidate their Employee Stock Ownership Plans.
The CEO Deepesh Agarwal expressed his unwavering happiness and positive hope about the company’s growth trajectory, and quoted, “Moreover, companies are increasingly embracing ESG initiatives, and MoveInSync has been fulfilling this mandate for all our clients for the last 24 months. With Bessemer Venture Partners backing our initiatives, we look forward to crafting a rapid 2024 growth story.”
