Hevo is a SaaS startup founded in 2018 and is aimed at empowering enterprises with real-time data integration, automation and analytics technology. Located in Delhi, India, the company serves companies across more than fourteen different countries. Hevo’s platform enables organizations to create tailored solutions for their needs in a matter of clicks and provides real-time insights with data from a variety of sources.
Recently, Hevo has successfully secured $30M in its Series B round of funding, led by Sequoia Capital India. The round also saw participation from existing investors Jyoti Bansal (Harness) and Mayfield India. With this round of funding, Hevo plans to accelerate growth within their key product areas such as data engineering, self-service analytics and intelligent automation products.
The team behind Hevo consists of engineers who have formerly worked with companies such as Amazon Web Services, Microsoft Azure, Twilio and Imgur among others that have contributed significantly to the new product innovations that the company is launching. With these advancements, the team is keen to make access to quality data completely secure for all enterprises across the globe and simplify the entire process from collection to delivery of insights within minutes.
Overview of Sequoia Capital India
Sequoia Capital India is an investment firm that focuses on providing seed, early stage, and growth funding for businesses in India. Founded in 2006, Sequoia has invested in some of the most prolific companies from India such as Oyo Rooms, Byju’s, PolicyBazaar and CureFit. Sequoia Capital has its presence across different cities within India such as Mumbai, Bengaluru & Delhi.
Recently SaaS Tech startup Hevo Data secured $30 million during its series B round of fundraising led by Sequoia Capital. Hevo is an analytics-focused start up that works with enterprises to simplify data integration and provide ingesting streaming data into other cloud-based services. It has successfully raised more than $42 million prior to this particular round of funding.
This additional fund will be used to strengthen the resources within the company and expand its operations into newer markets with international presence in countries like Europe & US which will eventually help them to double their customer base from 4 billion users currently based out of 25 different countries spread across Asia Pacific region.
Hevo’s Series B Round
SaaS startup Hevo announced that it has raised a fresh funding round of $30 million led by Sequoia Capital India. This Series B funding round marks a significant milestone in the company’s growth and development trajectory, as Hevo’s AI-driven data integration platform accelerates the development of software and data-driven products.
This round will also enable Hevo to expand its international presence and add to its leadership and engineering teams.
Overview of the Series B round
SaaS startup Hevo recently announced that it has received $30 Million in a ‘Series B’ financing round led by Sequoia Capital India. This latest development enabled the company to grow rapidly and meet the demand for its data integration services in India and abroad. The round included participation from existing investors Accel and Lightspeed Venture Partners, and new investors B Capital, Think Investments, and Kalaari Capitals.
Hevo is a cloud-native Data Platform as a Service (DPaaS). It allows businesses to quickly transform data from any source into actionable analytics. It does this through an automated integration with databases, ETL logics, streaming data pipelines, event-driven production logic, business intelligence (BI) tools like Tableau or Looker etc., machine learning models or custom integration logic written using its proprietary programming language – Hevoscript. Used by more than 150 global customers across industries such as retail, ecommerce, logistics & transportation etc., Hevo is redefining how users leverage their critical data sets in the most efficient way possible.
Hevo’s growth can be attributed to its focus on product innovation and its release of several new features since its inception in 2018 including the powerful Hevoscript programing language that enables customers to quickly build custom integrations for their specific use cases. By leveraging insights from massive datasets faster than ever before Hevo is becoming increasingly sought after among enterprises providing them visibility into their markets when they need it most. Additionally earlier this year the company launched an industry first low-cost lifetime subscription plan helping startups get up and running with minimal investments in time or resources.
The Series B funding will be used primarily to drive product marketing activities and drive sales teams to penetrate deeper within the Indian market as well expand their reach internationally in various countries such as Singapore & UAE . Crucially investors have also sponsored special research projects involving machine learning, artificial intelligence (AI), natural language processing/understanding (NLP/NLU) technology & Knowledge Graphs which will help further enhance the depth of capabilities of the Hevo Platform over time making it truly one of a kind globally catering to SaaS companies , retailers , eCommerce firms , Logistics corporations & other industries enabling them to stay ahead of competition thanks to the advanced analytics insights provided by Hevo’s DPaaS solution !
Details of the investment
Hevo, an AI-powered data integration SaaS startup, has raised $30 million in a Series B funding round led by Sequoia Capital India. The new funds will be used to further develop Hevo’s artificial intelligence and machine learning capabilities and put them to use for the accelerated growth of their customer-base.
Hevo’s Series B round was backed by its existing investor Nexus Venture Partners, and new investors Accel and Lightspeed India Partners. Existing investors from Hevo’s Series A round also participated in the round. Previous investors include KAI.
Impact of the investment
The funding received by SaaS startup Hevo provides the company with the capital needed for growth initiatives, such as international expansion, product development, and customer acquisition efforts. The investment will also help add to the company’s existing funding total of $39 million since its founding in 2015.
The Series B round was led by Sequoia Capital India and included participation from existing investors such as Accel and Dharma Ventures as well as new backer, Lightspeed India Partners. This announcement comes on the heels of a strong 2019 for Hevo, in which it secured $12 million in seed financing, doubled its user base within 6 months, and launched an integration with Salesforce.
Overall, this investment reinforces Sequoia’s confidence in Hevo’s cutting-edge data engineering platform and highlights their progress toward disrupting data engineering industry. In addition to providing the company with much-needed capital resources to drive product development and globalization efforts, this funding helps to validate Hevo’s mission of democratizing data integration across various platforms.
Hevo’s Plans for the Future
SaaS startup Hevo has raised $30M in a Series B round led by Sequoia Capital India, allowing them to take the next step in their growth. This investment will be utilized to accelerate Hevo’s product roadmap, focus on customer success, and expand Hevo’s global footprint.
With the new funds, Hevo plans to establish itself as a leader in the SaaS and cloud data integration space.
Let’s look at what Hevo is planning for the future with this new round of funding.
Expansion of product offerings
Hevo is planning to expand its existing product offerings through the capital deployed by Sequoia Capital India in its recent Series B round. The SaaS (Software as a Service) startup Hevo aims to use its new found resources to extend the reach and scope of what it can offer businesses.
Hevo wants to tap into various areas and focus on offering services that connect, collect, discover, analyze and present data. This will help businesses in leveraging their existing information into productive insights that can help shape their operations. Additionally, Hevo will be looking at other opportunities such as powering intelligent apps and developing autonomous capabilities for customers.
To reach these goals, Hevo plans on expanding their development team as well as investing in more advanced technologies such as artificial intelligence and machine learning so they can deliver efficient solutions to their customer base. The company has made it a priority to foster innovation in the environment while embracing challenges presented by the ever-changing technology landscape.
Through this expansion of offerings, Hevo hopes to become a comprehensive enterprise solution provider that provides efficient tools that enable businesses’ decision making tasks with ease.
Expansion of customer base
Hevo plans to use the new funding to expand its base of customers as well as providing innovative products, particularly in the cloud space. Hevo plans to use the funding to launch a range of new features, focusing particularly on data integration and migration. Hevo’s goal is to bring data from on-premises, cloud and hybrid sources into modern analysis tools such as Tableau,Looker and Metabase faster and more reliably than ever before.
The additional capital will also support new product development and increased investments in customer success teams across geographies where Hevo operates. This will enable accurate data transformation for customers around the world so that companies can quickly unify their disparate systems into a single source of truth for decision-making.
This development should see an increase in Hevo’s usage by companies that have traditionally been underserved; those who have large amounts of legacy or proprietary tech spread across multiple locations, siloed teams or just having outgrown existing data infrastructure solutions. It is expected that this will result in easier onboarding of customers onto Hevo’s SaaS platform and allow existing customers access to more advanced capabilities while also allowing them access to enhanced levels of customer success support.
Expansion of geographical presence
Hevo is planning to use the proceeds from the Series B round to further its product capabilities, international expansion and customer acquisition. Hevo plans to increase focus on expanding its geographical presence in the coming year, targeting key markets in North America, Europe and Australia.
The SaaS startup also plans to make investments in research and development across data protection, infrastructure scalability and privacy, ensuring compliance with new regulations including GDPR. Equipped with these features, Hevo wants to become a market leader in self-service data engineering for enterprise customers ranging from Fortune 500 companies to niche businesses. The company is also looking at active recruitment of top talent across engineering as well as sales and marketing teams.
This round of funding will help Hevo accelerate its international presence into newer markets and offer an unparalleled proposition for enterprises that wish to simplify the process of data movement through a unified interface. Consumer retention has been one of their prime objectives since they launched, so they plan on maximizing customer engagement through digital channels allowing customers to get access products faster.
Sequoia Capital India’s Perspective
Indian SaaS startup Hevo recently announced that it has raised $30 million in its Series B round led by Sequoia Capital India, with further backing from Lightspeed India Partners and Matrix Partners.
This latest investment is a testament to the growing interest in Hevo, as well as a sign of Sequoia Capital India’s faith in the startup and its potential.
In this article, we’ll take a closer look at what led Sequoia Capital India to invest in Hevo.
Overview of the investment
Sequoia Capital India’s investment in Hevo marks the first time it has invested in a SaaS startup that caters to the data analytics segment of the Indian market. The startup, which enables its customers to easily and securely store, transfer, and analyze data from any AWS cloud data source, has raised $30 million in a Series B funding round.
Sequoia Capital India is an experienced investor in technology enterprises across the globe and sees potential in Hevo’s focus on cloud-native data analytics solutions with an emphasis on automation. It is committed to supporting startups like Hevo with both capital and mentorship. Through this investment round, Sequoia Capital India hopes to help Hevo continue its exponential growth as it scales up its platform and sets itself up as a global player in the data analysis space.
The team at Sequoia Capital India is confident that through its experience and resources, it can fully support the journey of Hevo’s expansion beyond the Indian market. Sequoia Capital India also plans on working with Hevo’s customers to understand more about their tech preferences so as to make their investments more successful.
Benefits of investing in Hevo
Sequoia Capital India’s decision to invest in SaaS startup Hevo is indicative of the growing trend of software-as-a-service companies making their mark in the ever-evolving tech ecosystem. Hevo saw its Series B round led by Sequoia Capital India raising $30M. It is a successful data integration platform that helps enterprises speed up analytics and create an easy mechanism between different data sources.
By investing in Hevo, Sequoia Capital India stands to gain a number of benefits. Firstly, they will be able to get equity in the business and benefit from potential exit events in the future. Secondly, they stand to gain insight into the workings of a successful SaaS startup and receive guidance on best practices for data automation solutions going forward. Furthermore, this will help them increase their presence within India’s vibrant technology start-up ecosystem and establish relationships with other industry leaders.
Finally, this investment gives them access to Hevo’s growing customer base which includes Fortune 500 companies as well as regional marketplaces from various sectors including eCommerce, BFSI and media & entertainment. In sum, by investing in Hevo, Sequoia Capital India stands to reap multiple financial and social benefits that come with such an investment.
SaaS startup Hevo raises $30M in Series B round led by Sequoia Capital India
The investment of $30M in SaaS startup Hevo by Sequoia Capital India will have a positive impact on both stakeholders of the company. It is expected to boost venture capital activity in the Indian startup environment, providing fresh impetus to the much-anticipated growth of the tech sector.
The new investment marks a major milestone for the Hevo team and its supporters. The funding is expected to help Hevo scale up its operations and take advantage of upcoming opportunities. In addition, it will also provide new avenues for growth by giving a platform for connecting with other potential investors, partners and customers across India and around the world.
The new funding round catalyzes Sequoia Capital India’s commitment towards capitalizing on technology start-ups that demonstrate exceptional potential in growing markets such as fintech, e-commerce and data analytics sectors. With this increased backing from key venture capitalists, Hevo is well-positioned to exploit its capabilities further into markets that require efficient use of predictive analytics tools such as AI applications, machine learning technology and big data management. This injection of funds also provides support to Hevo’s vision of becoming a global leader in data engineering solutions, enabling businesses to access transformative insights with just few clicks.
This injection of funds helps drive innovation at startups like Hevo by allowing them access to expertise from around the world who are leveraging technology development for social good through their efforts. Through acquiring this experience and knowledge, Hevo will be able to offer better products and services that can address customer needs more effectively which can ultimately impact business operations positively.