India-based SaaS firm, CloudCherry raises US$6 million In Series A Round Funding

Mon Sep 26, 2016 - 10:20am UTC

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After raising US$1 million in their seed funding round, CloudCherry, an enterprise startup based in Chennai, India has raised to new heights as they recently closed their Series A funding with a six-fold increase of US$6 million.

The funding was led by prominent venture capitals – Vertex Ventures and Cisco Investments plus existing investor IDG Ventures, which now only holds a minority stake in the corporation. This amount by far has made a record for the highest 2016 Series A funding raised by a SaaS startup.

Understanding that a quick, genuine response can always be a game changer to secure a happy customer, CloudCherry was established to help companies by providing a way to act fast on customer feedback.

Thus, CloudCherry set out to provide a platform for companies where companies can apply key metrics to gauge customer experience, capture customer feedback as well as get notified about customer insights in real-time to intervene and fix issues.

The startup enterprise currently works with companies in sectors of banking, financial services and insurance (BFSI), hospitality, healthcare, retail, manufacturing as well as e-commerce whereby their clients include brand names such as World of Titan, HDFC Bank, Caratlane and Central Voonik.

According to Deal Street Asia, CEO and co-founder of CloudCherry, Vinod Muthukrishnan said that “With this funding and their support, we are many steps closer to making our presence globally and becoming the name synonymous with Customer Experience.”

In a separate statement, the CloudCherry co-founder has also expressed his ambitions for the company, as they are looking to expand their business outside of India, targeting the markets of United States, Southeast Asia, and West Asia.

About CloudCherry:
Founded in 2013, CloudCherry is a SaaS firm formed with the coming together of a group of management gurus, business leaders and experts in mobility, analytics and technology sectors. The company based in Chennai, India specializes in customer analytics technology whereby it collaborates with brands to provide real-time analytics of the company’s products as well as to help them track, measure and improve user satisfaction.

This news is published on Reuters.