Noida based startup SquadRun Inc has raised $2.1 million in a fresh round of funding led by early-stage investor Blume Ventures, as per reported by Mint reports on Wednesday.
SquadRun was started in June 2014 by Apurv Agrawal, Kanika Jain and Vikas Gulati. Agrawal is a member of the founding team of 91springboard, a start-up that operates shared office spaces, while Jain used to work as a hub manager. Gulati was earlier a software engineer with Josh Technology Group.
In February 2015, the start-up raised a seed round from Amit Ranjan of Slideshare, Deepinder Goyal, founder of Zomato, Zishaan Hayath, founder of Toppr and Girish Khera, co-founder at Scientific Animations.
Squad will use the funds to scale its platform by expanding the technology, product, and data teams in India and the sales team in the US.
The platform automates business processes for enterprises by combining human intelligence and artificial intelligence, helping businesses scale with unprecedented speed, accuracy, flexibility, and cost reductions.
“Over the last 1.5 years, we have achieved product-market fit and turned into a profitable SaaS business. However, we wanted to invest ahead of revenue to scale the platform and get strategic investors on board,” said Apurv Agrawal, Co-founder, and CEO of Squad ( yourstory.com reported )
Squad is used primarily by digital commerce firms like Uber Inc, Flipkart Group, beauty products retailers Sephora, Tata Group, Rocket Internet Group and US-based apparel e-tailer Teespring.