Innov8 founder, others back employee performance manager Dockabl

New Delhi-based employee performance management platform Dockabl has raised $1.26 million (Rs 8.7 crore at current exchange rate) in a pre-Series A funding round.

Aditya Berlia, co-promoter, Apeejay Stya and Svran Group, and Ritesh Malik, founder of co-working place Innov8, invested in the firm. Other angel investors including entrepreneur Sanjay Kapoor and Irrawaddy Towers Asset Holding co-founder and director Arun Kapur participated in this round. Other individual investors including Angad Singh Malhotra and Anita Belani also backed the firm.

Owned and operated by Gravitate Ventures Pvt. Ltd, Dockabl said the money will be used to strengthen its product offerings. The startup is also aiming to expand its presence in markets across North America and Southeast Asia as well as launch a plug-and-play version of its product by 2020.

Founded by Samarth Masson and Sanjeev Grover, Dockabl operates on a software-as-a-service (SaaS) model to equip enterprises with a real-time performance management system. It assists with objective setting and tracking the execution of tasks.

Dockabl’s client base includes PolicyBazaar, Tata Realty, Bajaj Capital and Hero Housing Finance Ltd.

Recent deals in SaaS segment

• May: Online hiring firm Skillenza raised $1 million in a pre-Series A funding round led by CBA Capital’s Education Catalyst Fund.
• May: Sales execution, automation and predictive analytics platform LeadSquared secured $3 million in a Series A funding round from private equity firm Stakeboat Capital.
• May: Ed-tech firm Classplus, which runs a classroom management app for tutors, raised Rs 11 crore in its pre-Series A round of funding led by Times Internet and GREE Ventures.
• April: Customer lifecycle management platform CleverTap raised $26 million in a Series B round of funding led by existing investor Sequoia Capital.
• February: Intelligent fleet management and predictive analytics platform Fleetx.io raised an undisclosed amount in a pre-Series A round led by venture capital firm India Quotient and deal-making platform LetsVenture’s angel fund.