SaaS Startup Celebal Technologies Raises $32 Mn In Funding
Celebal Technologies, a Jaipur and California-based software consulting platform, has raised $32 Mn (NR 261.4 Cr) in minority growth investment from venture capital (VC) firm Norwest Venture Partners.
As per the startup, the raised funds will be used to expand to new territories such as Europe, the Middle East and Japan. The raised funds will also be deployed to strengthen its presence in existing markets across North America, India and the Asia Pacific.
Celebal Technologies | Making Data Simple For Enterprises
Founded by Anirudh Kala and Anupam Gupta in 2015, Celebal Technologies offers a plethora of differentiated services and accelerators on the Microsoft Azure and Databricks platforms.
The startup’s core offerings are around cloud innovation, supply chain analytics, chatbots, power platforms, and data analytics, helping businesses accelerate decision-making and take giant leaps in their digital transformation journeys.
Speaking about the development, Anirudh Kala, Co-founder and CEO of Celebal, said,
“Norwest’s deep business and technology services sector expertise, along with its global portfolio presence, complements Celebal Technologies’ strengths and ability to grow the business in key markets and in new domains like sustainability.”
As per the startup, a part of raised capital will also be utilised towards increasing delivery capacity and scaling industry-focused solution accelerators.
With a presence in countries such as the US, Canada, and Middle-East Asia, Celebal Technologies caters to more than 100 clients globally, including Fortune 1000 companies.
Commenting on the development, Shiv Chaudhary, Managing Director at Norwest Venture Partners, said,
“We are pleased to welcome Celebal Technologies to the Norwest family…Celebal Technologies continues to demonstrate strong, differentiated execution and team culture. The company is laying the foundation for further scale and capturing the very large global market opportunity.”
Raising $424 million across 66 deals, enterprise tech has emerged as the second most funded sector in the third quarter (Q3) of the calendar year 2022 (CY22), as per Inc42. Additionally, according to a report, the Indian SaaS segment is projected to capture 9% of the global SaaS market by 2025.