Cornerstone Venture Partners Fund (CSVP), a firm set up by former Reliance Industries executives Abhishek Prasad and Rajiv Vaishnav, has invested in sales intelligence firm Enparadigm Performance Solutions.
The investment firm has bet over $1 million (about Rs 7.29 crore) in Mumbai- and Bengaluru-based Enparadigm, which uses its platform to help frontline teams at large and medium enterprises to drive higher sales growth.
The growth capital investment in Enparadigm will help it drive double-digit revenue growth across its Indian and international markets, CSVP said in a statement.
Cornerstone Venture Partners, which was floated in 2018, says it is a frontier enterprise software-as-a-service VC fund. The firms it invests in are highly scalable, building products for global markets, have high recurring revenues and are led by founders with deep domain experience.
In July 2019, CSVP said it had invested $1 million (about Rs 7.29 crore) each in Wigzo Technologies Pvt. Ltd and IntelligenceNode Consulting Pvt. Ltd. Wizgo provides marketers a business intelligence experience cloud, while IntelligenceNode operates a competitive intelligence and price optimisation platform.
The co-founders of Enparadigm, which is operated by Enparadigm Performance Solutions Pvt. Ltd, include Hanuman Kamma, John Cherian, Kumar Veetrag and Arun Subramanian.
The company says its sales intelligence suite consists of two products — Launchpad, which is a sales readiness platform; and SmartSell, which helps sales teams drive better customer conversions as well as upselling and cross-selling.
“Enparadigm is uniquely positioned to capture the largely untapped sales intelligence market powered by its proprietary AI capabilities that create a sophisticated intelligence layer on top of sales planning and CRM (customer relationship management) platforms,” Prasad said.
Kamma added that the growth capital it has raised will also be used to strengthen its product portfolio and data science capabilities, as well as increase its reach in the US and Southeast Asian markets.
Enparadigm’s clients include Aditya Birla Sunlife, Bharti AXA, HDFC MF, IndusInd Bank, Asian Paints and Star Health.