Business Standard

Lee Fixel's Addition leads $14-mn funding in SaaS startup

The funding would enable company to disrupt the stagnant managed service providers market and take on legacy vendors with its newly launched AI-powered PSA-RMM platform

(L-R) founders Jayakumar Karumbasalam and Arvind Parthiban

(L-R) founders Jayakumar Karumbasalam and Arvind Parthiban

Peerzada Abrar Bengaluru, a unified professional services automation (PSA) and remote monitoring and management (RMM) platform, said it has raised $14 million in new funding. The Series A fundraise was led by former Tiger Global Management executive Lee Fixel’s venture capital firm Addition and Tanglin Venture Partners. There was participation from existing investors, Matrix Partners India and Elevation Capital. Angel investors, Giovanni Sanguily (CEO of Honey CRM), Sidharth Malik (CEO of CleverTap), Noel Wax and Lisa Woods (CEO and COO of Groundswell Group), and Abhi Kumar (Partner at M12 Ventures) have also participated.

The funding would enable the company to disrupt the

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 27 2022 | 7:46 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to