SaaS firm Prismforce raises $13.6 mn in funding for business expansion

The Mumbai-based company enables IT companies to build supply chains, deliver projects

Prismforce said on Wednesday it has got $13.6 million in Series A funding led by Sequoia Capital India. The SaaS firm will use the funds to enhance its product suite, strengthen marketing, and grow its talent base.

Mumbai-based Prismforce enables IT companies to build supply chains and it is operational in the US and India. The company said its software for skill management, talent, and forecasting help businesses plan, staff, and deliver projects.

The latest funding round was led by Sequoia Capital India along with global angel investors. Prismforce, a year ago, raised $1.8 million in seed funding. The latest investment brings the total funds raised to $15.4 million.

“We have been able to build an exceptional team to execute our vision. Our core team has people with experience in global tech and consulting companies such as Amazon, Uber, Infosys, Phenom & McKinsey. By partnering with Sequoia Capital India, we will be able to accelerate our product development and business growth to serve the tech sector globally,” said Somnath Chatterjee, founder and chief executive officer of Prismforce.

Chatterjee and Mohd Qasim founded Prismforce in 2021 after working at McKinsey for 14 years.

Abhishek Mohan, principal, sequoia Capital India, said about the partnership: “The technology services industry, with a cumulative market cap of over $4 trillion and a global workforce of over 20 million, is a core pillar of the global digital economy. Despite that, there is no large vertical software vendor serving its varied needs. Somnath and Qasim’s vision is to create the defining vertical software company for technology and professional services.”