Complinity, a Gurgaon based startup in the B2B SaaS space has raised $750,000 (INR 5.5 crore approximately) in a funding round from RiSo Capital, an early stage VC investment firm based in Silicon Valley (US), along with Rajnish Babbar, another lead investor from the US and few other angel investors, as part of the Pre-Series A round closure. The funds raised will be utilized to expand the overall technology, sales and operational capabilities of the company.
Founded in 2017 by Sumit Pahwa, Hari Balasubramanian and Kapil Sharma, Complinity is India’s Compliance Software Company covering 2000+ Laws and 20,000+ compliances in India across all states and 50+ industry verticals.
Sumit Pahwa, Co-founder and CEO, Complinity said, “We are thankful to RiSo Capital and all other investors who believed in us and in our vision. We founded Complinity with a mission to establish regulatory compliance monitoring mechanism in Companies through technology. We believe we are still at early stages of technology disrupting the Compliance space. There are 1.3 million Companies in India and less than 1% use any such software. This presents an exciting opportunity before us in this virgin market. The current round of investment will help us scale the technology for making cutting-edge SaaS products with a global appeal.”
Mahendra Jain, General Partner, RiSo Capital added, “The Complinity founders and team carry a rich experience in Technology, Legal and Business and we’re super excited to be part of their growth journey. India is rapidly digitizing small and medium businesses and Complinity is one of the fastest growing Compliance Software Companies in India to bring ease of processing and doing business. They have built a significantly disruptive SaaS product with a wide pan-India marquee customer footprint and hold a global vision.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.