Apple partner Servify raises $23 million to scale its devices after-sales and management platform overseas
Servify, a Mumbai-headquartered startup that operates a device lifecycle management platform and cultivates profoundly with brands including Apple and Samsung in a number of geographies, has raised $ 23 million in a brand-new financing round.
The Series C financing round for the five-year-old startup was led by existing investor Iron Pillar, and other existing investors including Blume Ventures, Beenext, and Tetrao SPF participated in the round. The brand-new round approaches Servify’s to-date cause to $48 million.
Servify working in partnership with enterprises such as Apple, Samsung, OnePlus, Xiaomi, Nokia, Motorola, and Airtel and manages after-sales services such as device protection, exchange, and trade-in programs for its partners, justified Sreevathsa Prabhakar, founder and chief executive of the startup, in an interview with TechCrunch.
The startup, which offers its services through a whitelabel sequence with initiatives, working in partnership with over 50 symbols and reaches over 50 sells. With Apple, it has worked in three geographies, and in over half a dozen with OnePlus.
The brand-new round, which was oversubscribed, will help the startup expand its expertise in countless brand-new make lists and extend its reach in international markets, said Prabhakar, who has more than a decade of knowledge in overseeing after-sales and other maneuver conduct businesses.
” We are keenly interested in unique enterprises addressing hard troubles in very large and world markets and are agitated to continue to back the company in its next phase of increment. Stellar executing by Servify’s team combined with its differentiated technology platform have led to the company’s affecting growth this year despite Covid-1 9 referred challenges ,” said Anand Prasanna, Managing Partner at Iron Pillar, in a statement.
The coronavirus outbreak has deep impacted the business of Servify, which was productive in the financial year that was completed in march. The month of April and May, when many countries enforced lockdowns, the startup’s business reached a complete halting. But in the months since, it has not only fully-recovered but been increased to new statures, said Prabhakar. During no time, the company laid off any employee or abbreviated their stipends, he said.
” It is very satisfying as we have more than quadrupled our receipt in 2020 till year, and grew funds for expansion even during the tough financial environment. This further strengthens our ideology that we have constructed a globally scalable bang business this is not just trusted by massive labels, but likewise the investor community ,” he said.
TechCrunch requested Prabhakar if he would ever consider participating with customers instantly. He said the current model of Servify enables it to acquire clients at no charge and he thinks it’s the right pose to maintain moving forward.
Prabhakar said he is hopeful that more crusade firms will look into this new category, which has traditionally does not receive a lot of attention because it did not fit into existing cavities such as SaaS. He said Servify has proven that this category is crucial and thriving.
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