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Esper raises $60 mn Series C funding led by Insight Partners
Photo Credit: VCCircle

India and US-based Esper on Monday said it has raised $60 million (Rs 443 crore) as part of its Series C 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.

Esper will primarily use the fresh capital to expand.

Esper was founded in 2018 by Shiv Sundar and Yadhu Gopalan. Its device infrastructure enables developers and mid-market organisations to deliver their software as a service. The company has over 200 paying customers and over 2,000 developers using its platform for product development. It claims its revenue grew 4 times in 2021 from the previous year.

Gopalan, a graduate of Auburn University, has worked with companies such as Amazon and Microsoft. Sundar, an alumnus of the University of Southern California, has worked with Samsung, Huawei and Cyngn.

Gopalan, CEO and co-founder at Esper, noted that 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," he explained.

Sundar, COO and co-founder at Esper, said that currently 83 employees work out of India. The India team is responsible for designing and engineering Esper's core DevOps platform. He added that the company aims to expand its employee headcount in India to 200 by 2022.

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.

Insight Partners is a global venture capital and private equity firm investing in high-growth technology and software companies. Founded in 1995, it has raised more than $30 billion and invested in over 400 companies worldwide.

Last month, Insight Partners led a Series B funding in Acceldata, a data observability platform.

In May, the investment firm led a Series A funding in data collaboration software provider Atlan.

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