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Starting a Singapore-based cloud platform Deskera has raised more than $ 60 million in Series A financing from investors such as Jungle Ventures, Cisco Investments, Tembusu Partners, Susquehanna International Group and Innoven Capital.
Founded in 2008, Deskera provides cloud-based solutions for small and medium-sized enterprises (SMEs) in Southeast Asia. Its solutions enable small businesses to track their finances, manage their customers, hire and manage their employees. According to Deskera, it is the largest cloud platform for SMEs in the region.
"I started Deskera with a singular mission to help SMEs by providing them with access to cutting-edge technology. Today, we are taking another step towards this mission. With this investment, we aim to add more innovative solutions to our portfolio and continue our global expansion, "said Shashank Dixit, CEO of Deskera.
Deskera also launches Desk – a B2B business platform for SMEs.
According to an official statement, this platform brings together suppliers, logistics, payments and customs. Deskera also claims that it is the first integrated B2B platform for SMEs in the region.
Dixit, in a previous interaction with the portal, sharing the story of Deskera, admitted that every day of the first four years of the existence of the company marked a turning point.
The early years consisted of going door-to-door and selling to SMEs (small and medium-sized businesses), most of whom refused to buy the product, adopting cloud-based offers. being not as prevalent as today. It was also a period during which Dixit often slept at Singapore's Changi airport to save money.
"The reason I did not stop smoking was because of my personal family background. My mother always said you were failing. I come from a typical Indian family of the middle class. If you are motivated by your personal goals, you would do it. You must have a stake, a goal and a personal ego. By definition, if there is something difficult to achieve, the path will be difficult, "said Dixit.
During the previous interaction, Dixit had also added that Deskera about $ 20 million of convertible debt SoftBank, Aris Prime, Partners Asset Management, Tembusu Partners and Tikehau Capital. Deskera had also requested an initial public offering in Singapore, but subsequently postponed its listing plans.
While 2008 is the official date of foundation, the company's origins date back four years earlier to the university dormitory of the Indian Institute of Technology (IIT) – Kanpur.
Dixit and the three co-founders – Somesh Misra, Brajesh Sachan and Paritosh Mahana – during their last year at the university, had built a software for a local point of sale located near the campus to allow its offices located in different places to work on the same set of accounts. . After graduating from IIT, the director of Deskera said that he had decided to make Singapore its base, as the city-state offered an ideal opportunity thanks to its low penetration of the management software package integrated (PGP).
According to Dixit, the company was for profit since last year. Deskera employs more than 300 people and has offices in Singapore, Kuala Lumpur, Jakarta, Dubai and eight Indian cities, including Mumbai, Delhi, Bangalore, Ahmedabad and Pune.
Read also:
Cloud-based software provider Deskera lobbies in India for talks to raise funds from PE players
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