SaaS Startup Paperflite Secures $400K Seed Funding; to Strengthen Presence in the US

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Paperflite, a NYC and Chennai-based SaaS startup, closed $400K seed funding round recently

The seed-funding round for the two-year-old startup Paperflite, was led by The Chennai Angels with participation from Lakshmi Narayanan, ex-Vice Chairman and ex-CEO of Cognizant, Girish Mathrubootham, Founder and CEO of Freshworks, T R Santhanakrishnan, CEO of Datatracks and ex-CFO of Sutherland Global Services, Mithun Sancheti, CEO of Caratlane, Like Mind Ventures, led by Krishnan Srinivasan, and an HNI group led by Adrian Rusu from Singapore, both of whom join the Board as Observers.

Co-founder and CEO Vinoth Kumar told BusinessLine that the company will use the funding to strengthen its presence in the US and European markets and expand to emerging markets such as Latin America, Singapore, Malaysia, the Philippines and India. “Currently we have clients in the US and European regions. Now, we will establish local offices to deepen our market there.”

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The report also mentioned that Paperflite enables small- to medium-size companies to improve their sales through content-sharing tools. The tools help enterprises deliver right sales and marketing pitch to potential buyers. “We are in the B2B space and cater to sectors such as financial services and technology. Now the focus is on a specific industry: we are expanding to healthcare segment that includes life sciences, hospitals and medical devices, pharmaceuticals and automotive,” Kumar added.

Paperflite was co-founded in March 2016 by Kumar, along with Yega Kumarappan and Anant Bhat. It provides B2B marketers with a SaaS platform to deliver and measure content marketing. The platform is available across web, tablets and phone and is used by B2B Companies across the globe including Freshworks, Red-Eye and DataTracks.

In his statement to the press Narayanan said, “Sales and marketing are witnessing a massive digital transformation to enable businesses to create an engaging buying experience for their customers at every touchpoint.”

“With the right technology and objectives, I believe that Paperflite impeccably meets the essential requirements of the marketing and data world. With its affordable cost to small businesses it shall help them drive higher growth,” said KS Vishwanathan, Vice President, Industry Initiatives, NASSCOM, in an interview with The Economic Times.

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