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Esper bags USD 60 mln from Insight Partners, others

Esper bags USD 60 mln from Insight Partners, others

Funding News

Esper bags USD 60 mln from Insight Partners, others

India and US-based Esper on Monday announced that it has raised USD 60 million (about Rs 447 crore) in funding led by Insight Partners. Existing investors including Scale Venture Partners, Madrona Ventures and Root Ventures also participated in this funding round, said Esper in a statement.

The investment brings Esper’s total funding to USD 100 million and follows the company”s USD 30 million series B in May this year.
Founded by Shiv Sundar and Yadhu Gopalan in 2018, Esper offers a DevOps SaaS (Software as a Service) platform for intelligent edge devices. Esper’s device infrastructure enables developers, mid-market organisations, and enterprise fleets of over one lakh devices to deliver their software as a service. It has a rapidly-growing global customer adoption among brands in retail, hospitality, logistics, healthcare, education, and others. DevOps refers to a set of practices that combines software development and IT operations. Esper COO and Co-Founder Shiv Sundar said the company has 158 employees.

“Currently, 83 employees work out of India and are responsible for designing and engineering Esper”s core DevOps platform along with tackling the core marketing and sales functions,” he added.

Sundar outlined the company’s plans for India and said it aims to reach a headcount of 120 by December this year and 200 by 2022 in the country. This will include engineers as well as staff for sales, marketing and HR roles.

“For Esper, the team here is working to contribute to the success of the company. From building Esper’s core DevOps platform, owning APAC sales, to core marketing and design responsibilities, the India team is crucial to Esper”s success,” he said.

“India witnessed unprecedented digital transformation since the pandemic, which makes it a unique market with the potential to adopt DevOps across every industry. Android DevOps has the potential to transform Indian businesses through their journey towards agility, increase operational efficiency and control costs,” Yadhu Gopalan, CEO and Co-Founder at Esper, said.

The Series C funding comes less than five months after the company raised $30 million (Rs 219 crore) in a Series B funding led by Scale Venture Partners in May. Esper had raised $7.6 million Series A funding round in February last year.
(with PTI inputs)



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