Hevo Data bags $8 Mn in Series A funding round

Team StartupcityBangalore and and San Francisco-based SaaS startup, Hevo Data has raised $8 million in its Series A funding round led by Singapore-based VC firm Qualgro and angel investor, Lachy Groom.

The round also saw participation and active involvement from investors like Chiratae Ventures and Sequoia Capital. After a gap of 9 months, Hevo secured fresh capital while previously it had raked in $4 million led by Sequoia and Chirate in October 2019. So far, the cloud-based data-
integration platform has accumulated around $13 million in total capital across three financing rounds.

It is said that the company would utilize the latest proceeds to expand the number of integrations available on its platform, hire sales and marketing terms in more countries, including the United States and Singapore.

Hevo, a part of the 20 startups selected by Sequoia for its second cohort in India and Southeast Asia, was founded in 2016 by Manish Jethani and Sourabh Aggarwal.The startup is known to leverage machine learning to understand the source model from various kinds of data sources such as databases, cloud applications, sensor data (IoT), and clickstream data. This ensures most of the time-consuming activities are taken care of by the platform.

The company largely focuses on online commerce, financial technology and healthcare sectors, which rely heavily on customer data to drive sales. It currently provides its services across five nations with over 40 mid-size companies, and its portfolio also includes big companies.