Credit Suisse Asset Management’s NEXT Investors invests in Sapience Analytics

PUNE: Indian software product company Sapience Analytics has announced a majority investment from Credit Suisse Asset Management’s NEXT Investors. The NEXT investment will be primarily used to accelerate Sapience Analytics’ expansion into the US market. The Pune-based firm didn’t share any further transaction details. Following this investment, Frank Fanzilli, Senior Advisor to NEXT Investors and Greg Grimaldi, Portfolio Manager, NEXT Investors at Credit Suisse Asset Management will be joining the board of the company. Bradley Killinger, who has, in the past, worked at Oracle and IBM, has also joined as the President of the company, leading the North American business as well as global sales and marketing.

“We are seeing rapid growth for Sapience in the US market. We stand to benefit from our relationship with the NEXT team and their rich industry network which will enhance our ability to accelerate further,” said Shirish Deodhar, CEO, Sapience Analytics. “As a result of this investment, our headquarters will be relocated to the U.S., and we will continue to make strong management additions and add experienced board members to help capture a greater share of the large global enterprise market. Sapience is a unique People Analytics solution, and unlike other products, is based on automated capture and inferencing of work trends rather than any external or subjective people data.”

Set up in 2009, Sapience provides companies with an enterprise workforce analytics and efficiency solution.

Grimaldi said, “With operational efficiency and human capital productivity continuing to be a focus for the financial services industry, businesses need to be smarter in how they deploy resources and allocate workflow. Sapience Analytics helps solve a big pain point by empowering large institutions to efficiently manage human capital resources to help optimize work streams across an increasingly disparate workforce made up of permanent staff, third-party vendors, consultants, and contractors.”

Sapience currently has over 100,000 users across 70 enterprises in 12 countries largely comprising Fortune Global 200 enterprises.