Prismforce, a vertical SaaS firm focused on enabling IT companies to build a digital first, agile talent supply chain, has raised series A funding of $13.6 million led by Sequoia Capital India along with a select set of global angel investors.
Operational in the US and India, Prismforce will be utilising the funds to enhance its product suite, strengthen go-to-market capabilities and grow its talent base, the company said in a statement.
Last year, Prismforce had raised $1.8 million in seed funding from select industry thought leaders, serial entrepreneurs and SaaS founders as angels. This brings the total funds raised to date to $15.4 million.
“We have been able to build an exceptional team to execute on our vision. Our core team has people with experience in global tech and consulting companies such as Amazon, Uber, Infosys, Phenom & McKinsey. We are seeing good traction with marquee global tech services clients, where we are delivering significant business impact on the back of our product deployments.By partnering with Sequoia Capital India, we will be able to accelerate our product development and business growth to serve the tech sector globally,” said Somnath Chatterjee, founder and CEO, Prismforce.
“The technology services industry, with a cumulative market cap of over $4 trillion and a global workforce of over 20 million, is a core pillar of the global digital economy. Despite that, there is no large vertical software vendor serving its varied needs. Somnath and Qasim’s vision is to create the defining vertical software company for technology and professional services. Over the past year this vision has been validated by multiple industry-leading IT providers, which have deployed Prismforce products to great impact,” added Abhishek Mohan, principal, Sequoia Capital India.
Prismforce’s software suite for skill management, talent marketplace and forecasting helps technology businesses efficiently plan, staff and deliver projects while providing compelling career progression for their employees. This leads to sustainable, profitable growth for enterprises and better employee engagement.
Image : Prismforce founders Mohd Qasim (Left) and Somnath Chatterjee