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IDGVI News: Media Coverage 2014

Peel-Works raises $2 million from Inventus, IDG Ventures

Livemint.com – July 28, 2014

The big-data analytics firm will expand its offerings, hire senior managers and ramp up product development

by Ashna Ambre


Peel-Works, set up in 2010, offers SaaS-based product 9Yards along with big-data analytics platform Genius.

Mumbai: Peel-Works Outsourcing Pvt. Ltd, a Mumbai-based software as a solution (SaaS) and big-data analytics company enabling sales-force and traditional trade transformation, has raised $2 million from Inventus Capital Partners and IDG Ventures India. The company will use the money to expand its existing offerings, hire senior managers and ramp up technology and product development.

“Peel-Works has experienced tremendous growth and traction. The adoption of their unique multi-product SaaS and analytics platform by leading companies showcases their technology and analytics expertise,” Karan Mohla, vice-president, IDG Ventures India, said in a statement.

The company, set up in 2010, offers SaaS-based product 9Yards along with big-data analytics platform Genius. This product platform has been utilized by large- and medium-sized companies in the fast-moving consumer goods (FMCG) and telecom sectors, among others that conduct their business using large indirect sales forces.

Parag Dhol from Inventus and Karan Mohla from IDG Ventures have joined the board of directors of Peel-Works.

“IDG Ventures and Inventus have enabled entrepreneurs build large successful companies. We have been privileged to be associated with IAN (Indian Angel Network) and have leveraged on both the mentoring and the vast network, which has helped us greatly in scaling our business,” Sachin Chhabra, founder and chief executive officer, Peel-Works, said in a statement.

Peel-Works’ technology solution organizes information, computes performance-based ratings and incentives and uses analytics to perform predictive modelling and generate recommendations around promotions, skill and competency.

The company had previously raised funding from the Indian Angel Network in 2011, led by Sadeesh Raghavan and Srikant Sastri, who were on the board of the company.