SaaS startup Zomentum raises $4.1 mn from Accel, SAIF Partners

SaaS startup Zomentum raises $4.1 mn from Accel, SAIF Partners
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9 Jul, 2020

Bengaluru-based Pactora, which owns and operates software-as-a-service (SaaS) startup Zomentum, has raised $4.1 million in a seed funding round from Accel and SAIF Partners.

The company plans to deploy the fresh funds to accelerate its go-to-market strategy and build sales, marketing and product pipelines around that, as per a statement. The company also plans to build a global team and scale in multiple geographies, it added.

Founded by Shruti Ghatge and Rahil Shah in 2018, the startup builds sales solutions for managed services providers. It enables information technology (IT) channel partners to grow their business, add new customers, connect the dots and spread their value. The company claims that it is an all-in-one solution with various product modules.

The company, which shipped its first product in January this year, has clients across four continents, with a majority of its customers based in the US. It claims to have achieved 40% month-on-month growth over the past six months.

“There are over 2,00,000 IT partners in the US alone. And almost the same number across Canada, UK, and Australia. As we add more partners, we have an opportunity to improve their business by not only providing them the tools but also provide data-driven insights on how these partners could provide more value to their customers (the B2B customer set) to gain market share quickly,” co-founder Ghatge said.

Mumbai-based sector agnostic investor SAIF Partners has so far invested in the consumer, education, finance, healthcare internet, IT services and logistics space. Its portfolio comprises startups such as fintech giant Paytm, event management and online ticketing platform BookMyShow, logistics platform Rivigo, online food ordering major Swiggy and social networking app ShareChat.

“The IT partners establish deep and rich relationships with the B2B customer set. They are the route to market for various products and services to reach many businesses across the world. Zomentum is focused on building a best in class product for making these IT partners successful,” Alok Goel, partner at SAIF Partners, said.

The other investor, venture capital firm Accel, recently invested in cybersecurity startup Securden, SaaS platform Aavenir and events platform Airmeet. The company, which has offices in Palo Alto and San Francisco, with additional operating funds in England, India and China, works with startups requiring seed, early and growth-stage investments.