SaaS and big-data analytics company Peel-Works has raised a Series A round of $2 million from Inventus Capital Partners and IDG Ventures India.
The investment will be utilised to expand its existing offerings, hire senior management and ramp up technology and product development, the company said in a press statement.
“Peel-Works will also expand further to global markets and look to establish itself as a successful global SaaS product company from India,” the statement added.
Parag Dhol from Inventus and Karan Mohla from IDG Ventures have joined the board of directors of Peel-Works. The company had previously raised funding from Indian Angel Network (IAN) in 2011, led by Sadeesh Raghavan and Srikant Sastri, who were on the board of the company.
In a press statement, Sachin Chhabra, Founder & CEO, Peel-Works, said: "Both IDGVI & Inventus have enabled entrepreneurs build large successful companies and that excites us. We have leveraged both the mentoring and its vast network, which has helped us greatly in scaling our business."
Peel-Works' technology solution organises information, computes performance-based ratings and incentives and uses analytics to do predictive modeling and generate recommendations around promotions, skill and competency.