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SaaS Startup Hevo Data Raises $1M Seed Round Funding

SaaS Startup Hevo Data Raises $1M Seed Round Funding

Data Integration platform Hevo Data has raised $1 million in a round of seed funding from IDG Ventures India, according to the latest press releases.

Founded by the Manish Jethani(CEO) and Sourabh Agarwal(CTO), who previously launched SpoonJoy, an on demand food delivery app in India, the cloud-based SaaS(Software as a Service) startup that leverages machine learning to understand the source model for various data sources(databases, sensor data and cloud applications). Its cloud-neutral products run on Amazon Web Services, Google Cloud as well as Microsoft Azure.

Having run food delivery startup before, the duo realized the shortcomings and problems that a typical delivery system faces. They needed to analyze and draw data from many sources such as Google Analytics, Mixpanel, Zendesk or Salesforce which became very hectic.


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“One of the challenges of food delivery is that the data needs to be highly optimized,” says Jethani. “Food margins are very low, so if your delivery cost is high, you will not make money. So we built a lot of technology to optimize the logistics part of things. We fundamentally come from a very strong engineering and data background and we wanted to solve food delivery with data.”

SpoonJoy was later acquired by Grofers in 2015, where Jethani and Agarwal worked for a year and then developed Hevo Data.

In a statement, IDG Ventures India executive director Venkatesh Peddi said “Today enterprises are investing heavily in technology to strengthen and empower their data teams to gain the competitive advantage in their space. We invested in Hevo Data because we saw a strong team building a great product that fills a critical gap in the market.”

 


 

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