Evolve Bits, which operates SaaS startup Zenskar, has raised $3.5 million (Rs 28 crore) in a seed funding round led by Bessemer Venture Partners.

The funding round also saw participation from Shine Capital, Basecamp Fund and Converge.

As per the startup, the raised funds will be used to invest in engineering talent, accelerate product development and advance their go-to-market initiatives.

Zenskar | Billing Infrastructure For SaaS companies

Founded by Apurv Bansal and Saurabh Agrawal, Zenskar is a New York and Bengaluru-based startup that offers billing software for SaaS companies.

The startup offers a flexible billing platform that enables SaaS companies to handle complexities in pricing that include subscriptions, usage-based pricing, nuanced discounts, credits, custom currencies, prepaid, postpaid, and ramp deals.

Speaking about the development, Apurv Bansal, Co-founder of Zenskar, said,

“Our vision is to provide an integrated suite of financial products that automates the quote-to-cash cycle, including CPQ, billing, accounting, receivables management, usage metering, analytics, and forecasting. This funding provides us the fuel to accelerate our efforts.”

The SaaS startup claims to have innovated system design and architecture, allowing limitless flexibility. It offers a visual, drag-and-drop interface that enables non-technical users to configure any deal structure.

As per Saurabh Agrawal, Co-founder of Zenskar, the startup enables sales teams to get creative with pricing while guarding finance teams against billing inaccuracies and delays. Internal engineering resources are freed up from billing efforts.

Additionally, using the platform, the finance teams can recognise accounting entries very flexibly in a low-code no-code manner based on business and pricing nuances.

Commenting on the development, Anant Vidur Puri, Partner at Bessemer Venture Partners, said,

“We are excited to partner with Zenskar on their journey to disrupt the quote-to-cash tooling for SaaS companies. We were impressed with their deep understanding of customer pain points and their DNA of first principles innovation to provide a radically unique and flexible billing software.”

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