Mumbai-based SaaS and big data analytics startup Peel-Works have got $2 million (about Rs 12 crore) in series-A of funding from IDG Ventures India and Inventus Capital Partner. Earlier in 2011, Indian Angel Network (IAN) had also invested a $1 million in Peel-Works.
"The two new key markets are the United States and south-east Asia, and we expect to have a present in these geographies in the next six to 12 months," said Sachin Chhabra, founder & CEO, Peel-Works.
Founded in 2010 by Sachin Chhabra, Peel-Works enables companies to keep tabs on people who close the sales cycle to check whether they are performing optimally. The start-up's cloud-based solution, called - 9Yards, gives companies analytics data on nine parameters to measure the performance of sales staff.
Another Peel-works' product called - Genius, analyses sales data, salesforce data and other relevant internal & external data to provide actionable insight on the employee performance, enabling companies to make quicker decision making.
The company has built a SaaS based Salesforce transformation and analytics platform that provides presence and performance management capabilities for companies with large extended salesforce.
This is also the second time that IDG Ventures and Inventus have joined hands to invest in a company. In October last year, both firm co-invested $2 million in Bangalore-based product recommendation platform Unbxd.
IDG Ventures is a global family of venture funds with approximately $3.6 billion under management. IDG Venture India has also been an investor in online companies such as Myntra, FirstCry.com, Yatra and Zivame.com. Inventus Capital partner on other hand had invested in Indian online startups such as - Dhingana, RedBus.in, PolicyBazaar.com and Vizury.
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