Bangalore-based Peel-Works, a SaaS and big-data analytics company enabling sales-force, traditional trade transformation, has raised a Series A round of $2 million (Rs 12 crore) from Inventus Capital Partners and IDG Ventures India. The investment received will be utilised to expand its existing offerings, hire senior management and ramp up technology and product development. Peel-Works will also expand further to global markets and look to establish itself as a successful global SaaS product company from India.
Parag Dhol from Inventus and Karan Mohla from IDG Ventures, have joined the Board of Directors of Peel-Works. The company had earlier raised funding from the Indian Angel Network (IAN) in 2011, led by Sadeesh Raghavan and Srikant Sastri, who were on the Board of the company.
Parag Dhol, Managing Director, Inventus Capital, said, "Peel-works is a great example of a technology solution (cloud) tailored to Indian realities (fragmented distribution chain). Sachin (Chhabra), Deepak (Vinchhi), Nidhi (Ramachandran) and team bring the experience and skills necessary to stitch together such solutions for blue-chip clients in the FMCG/consumer sectors."
Peel-Works was set up in 2010 and offers SaaS based product 9Yards along with a big-data analytics platform Genius. This product platform has been utilised by large and medium-size companies in FMCG, telecom sectors amongst others that conduct their business using large indirect sales forces.
Peel-Works' technology solution organizes information, computes performance based ratings and incentives and uses analytics to do predictive modeling and generate recommendations around promotions, skill and competency.
