SaaS platform Innovapptive raises funding led by Vista Equity Partners

Hyderabad-headquartered SaaS-based worker platform Innovapptive Inc on Tuesday announced it has raised a Series B investment led by global investment firm Vista Equity Partners. Existing investor Tiger Global Management also participated in the round.

Innovapptive will use the investment to accelerate product innovation and reach new regional markets while establishing its leadership position in the emerging connected worker software category, the company said in a media statement.

“Vista has significant experience scaling enterprise software businesses and emerging technologies. We are thrilled to have them lead our Series B investment and work alongside our team to advance and scale our vision, product innovation and go-to-market efforts," said company's chief executive Sundeep Ravande.


Ravande said the partnership will enhance their platform capabilities to integrate with enterprise systems, capture actionable insights, make recommendations for productivity and safety, and close the loop between assets and people.

The investment in Innovapptive was made by Vista’s Endeavor Fund, which provides growth capital and strategic support to market-leading, high-growth enterprise software, data and technology-enabled companies that have achieved at least $10 million in recurring revenue, the statement added. Ben Benson, Senior Vice President at Vista, will join Innovapptive’s board of directors.

“Innovapptive is a high-growth, emerging leader in the connected worker software category. Its mission-critical solutions satisfy the growing demand from asset-intensive industries to connect front-line and back-office data sources for enhanced business operations, well positioning the Company for long-term growth and success,” said Rachel Arnold, co-head of Vista’s Endeavor Fund.