Simplify360, a social media management application for social business analytics developed by Bangalore-based technology startup InRev Systems Pvt. Ltd., has raised funds from Amvensys Capital Group. Post this strategic funding round, Simplify360 plans to 'aggressively' grow in the US.
Bhupendra Khanal, CEO Simplify360 says, "Funds from this investment will be used to expand and grow operations in US. Simplify360 has built a strong and loyal customer base in India, APAC and Europe, but we definitely want to turn Simplify360 into a global company. US is a key market for us to achieve this goal."
Simplify360, which entered Indian market in June this year, is a software tool for the social media brand monitoring and analytics market. It is used by several agencies and companies like CafÃ© Coffee Day, Starcom Mediavest Group, Beehive Communications, Impetus Research, Mast Kalandar, Narayana Netralaya and Spar Hypermarket.
As per the deal, Z. Ed Lateef and Ajay Alur from Amvensys will join the board of Simplify360. Lateef stated, "Simplify360 has done tremendously well in APAC region and established a strong position in social media management and brand monitoring space. Most importantly, Simplify360 team is highly focussed and brings thought leadership in this new and emerging space. This matches well with the global growth strategy for Amvensys Capital Group."
Amvensys Capital is a US-headquartered private investment firm with focus on US, UK and India markets. Its sector focus lies in telecom, energy, software services and BPO. As per its portal, it typically invests $5-15 million in mid-size businesses and seek majority control in the businesses.
In January this year, InRev Systems, that owns Simplify360, had raised Series A funding from a Kolkata-based investor (), to be utilised for geographical expansion within India.
(Edited by Prem Udayabhanu)