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Iron Pillar led a $23m Series C round in Servify.

Financials

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Transaction Value£17m
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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software development

India

consumer application

Friendly

Single Bidder

Minority

Completed

Domestic

IT Services: Other

Private

consumer software

Venture Capital

Acquisition

Private Equity

Synopsis

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India focused venture capital firm Iron Pillar led a $23m Series C round in Servify, a device lifecycle management platform. Additional investors in the funding round include Blume, Beenext, Tetrao, 57 Stars, SParkle Find, SF Roofdeck Capital, Go Ventures, Madhu Kela Family Office, and Trifecta Capital. “It is very satisfying as we have more than quadrupled our revenue in 2020 till date, and raised funds for expansion even during the tough economic climate. This further strengthens our belief that we have built a globally scalable sound business that is not only trusted by large brands, but also the investor community,” Sreevathsa Prabhakar, Sevify Founder.

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