Iron Pillar, a venture growth investor backing global companies building products from India, has announced its investment in Ushur, the nocode intelligent automation company based in Santa Clara with product development in Bangalore.
Iron Pillar invested as part of the company’s $5M extension to its $25M Series B financing that closed in November 2020. This is the second investment from Iron Pillar Fund II, targeting growth stage cloud software companies. Iron Pillar is also an investor in well-known SaaS / cloud software companies like Uniphore, Servify and NowFloats.
Ushur’s Series B was led by Third Point Ventures with participation from existing investor, 8VC. The company and its Board decided to extend the round to add Iron Pillar to its roster of investors, due, in large part, to Iron Pillar’s global network of customers and partners for Ushur.
Ushur uses natural-language processing and no-code automation to deliver “digital first” customer experience solutions for industries like insurance, finance and healthcare.
“We’re thrilled to have Iron Pillar partner with Ushur in our mission to make digital customer experiences personal, convenient and satisfying at scale,” said Ushur CEO and co-founder Simha Sadasiva. “It’s further proof that omni-channel, self-service engagements are the way of the future in insurance and beyond. We look forward to working closely with Iron Pillar to scale Ushur to new heights”
Mohanjit Jolly, Partner at Iron Pillar, added “The Iron Pillar team is delighted to be investing in Ushur, and joining a remarkable team and co-investors in building a leader in intelligent automation for the enterprise. The Ushur team has taken process automation to the next level by
embedding much needed intelligence in the workflows, with ease of application development and deployment for the business user. We are looking forward to a deep partnership with Ushur over the coming years and building a juggernaut in the space.”
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.