Hansel Software Pvt. Ltd, which operates real-time mobile app management platform Hansel.io, said on Tuesday it has raised $4 million (Rs 27.5 crore) in a new funding round led by Vertex Ventures.
Vertex Ventures is an early-stage venture capital firm backed by Singapore state investment firm Temasek Holdings.
Existing investors IDG Ventures India and Endiya Partners also participated in this funding round, Hansel said in a statement.
The company said it will use the funds to boost growth, expand in international markets and for hiring.
The tech startup was founded in October 2015 by Varun Ramamurthy Dinakar, Parminder Singh and Mudit Mathur, who’ve all had stints at Zynga, Flipkart, Rediff and Disney Interactive.
Hansel’s product Experience Lake provides a single repository of user experiences across all platforms. The product has built-in access controls, workflows and code-free personalization facilities. Hansel also helps clients compare two versions of a web page to see which one performs better.
“Historically, companies have struggled to emulate the rapid pace with which the top tech giants test and personalize product experiences," said Piyush Kharbanda, executive director at Vertex Ventures. “Hansel’s technology helps its customers drive new product experiences without getting bottlenecked at code.”
Abhishek Srivastava, director at Endiya Partners, said Hansel’s presence in more than a quarter billion smartphones is a testament to the growing need for hyper-personalised experiences with faster and cost-effective turnaround.
Hansel had raised a seed round of funding from Endiya Partners, Tracxn Labs and a clutch of angel investors in early 2016. Last year, it raised $1.35 million (around Rs 9.2 crore) in a funding round led by IDG Ventures.
Vertex Ventures invests in early-stage technology companies in Southeast Asia and India across enterprise technology, financial technology and consumer internet.
Its other investments in India include Synup, a digital marketing for local businesses firm; Flutura, an Internet of Things analytics firm; Ace Turtle, an omni-channel order management firm; and Cloudcherry, a customer experience management SaaS firm.
Endiya Partners had made the final close of its debut fund at Rs 175 crore (around $26 million) in January last year. It has made 11 investments with its latest bet being Steradian Semiconductors Pvt. Ltd, a deep-tech startup that is developing high-performance sensors for autonomous vehicles.
IDG Ventures India is investing out of its third fund, which marked the final close in March 2017. Its portfolio includes companies such as Lenskart, Zivame, Aasaanjobs, Firstcry.com, Forus Health, Perfint Healthcare, SilverPush, SuperProfs, Uniphore, Vserv and Xpressbees.
Like this report? Sign up for our daily newsletter to get our top reports.