Netscribes, Inc., a company offering research & analytics solutions, has raised a second round of growth capital from Basil Growth Corporation, a Mauritius-based venture capital firm. The company already has New York?based Insight Venture Partners as its investor from its first round of funding.
Netscribes is a global knowledge services firm that offers solutions around research & analytics (market, business, investment and patent research), sales & competitive intelligence (Sales intelligence, social media monitoring & analytics), knowledge management (conceptualisation, roll?out, ongoing support, marketing collateral development and library services), publishing (children's book, media & corporate, content management and editorial & design services).
The funds would be used by Netscribes to rapidly expand its operations across US, Europe and Asia?Pac regions. Netscribes is in the process of expanding its service offerings across research and market intelligence to strengthen its position as a leading knowledge services provider. The company has most of its operations in India with 4 delivery centres across the country (Mumbai, Kolkata, Pune and Delhi) and offices across the globe. The funds will be raised in expanding the work force and also pursue acquisitions.
The KPO firm had also raised money from Connect Capital in its initial days – an early stage venture capital firm floated by Ramanan Ranghavendran, the present Managing Partner at Kubera Partners.
Inorganic Growth Plans On Radar
"What attracted us to Basil was the vast sales and operational experience that the team brings to the table. It comprises of ex?entrepreneurs and professionals who have successfully scaled up companies and understand where to support a firm in terms of strategic inputs or tactical ideas. We are entering an exciting phase in Netscribes and will be rapidly expanding our workforce to drive the aggressive growth plans we have put together, which include interesting inorganic opportunities too," said Sourav Mukherjee, Founder and CEO, Netscribes.
The global knowledge solutions firm, also announced the 100% acquisition of Inrea Research, a dynamic player in the niche patent research and analytics market, through a cashcum?
stock deal. Founded by a team of IIT alumni, Nalin Agrawal, Navendu Agarwal and Saurabh Shekhar, Inrea Research has a team of techno?legal professionals and patent analytics
The blending of the two companies will offer additional resources to Inrea Research’s clients while allowing Netscribes to supplement its existing business, investment and market research lines with patent research, the company said in a statement.
A host of KPO firms have raised venture money in the past 3- 4years. Quattro Solutions Pvt. Ltd raised money from Olympus Capital Holdings Asia, Walden International, eClerx Services Ltd. raised funds from Seqouia Capital India, B2R Technologies Pvt. Ltd. raised money from Aavishkaar India Micro Venture Capital Fund etc among others.