Houston-based workforce solutions platform closes series B round
money moves
A Houston software-as-a-service company has closed an undisclosed amount of funding in a series B round.
Innovapptive Inc., which has its global headquarters in Greenway Plaza, has announced it's closed a series B investment round led by Austin-based Vista Equity Partners with support from existing investor Tiger Global Management. The fresh funding will be deployed to "accelerate product innovation and reach new regional markets," according to the company.
“We look forward to this next phase of growth as we continue to define the emerging connected worker software category,” says Sundeep Ravande, founder and CEO of Innovapptive, in the news release. “Vista has significant experience scaling enterprise software businesses and emerging technologies."
Innovapptive serves customers across industries, including energy, materials, utilities, chemicals, industrial manufacturing, and moree. The suite of software allows for users to improve productivity, training, safety, and compliance.
"We are thrilled to have them lead our Series B investment and work alongside our team to advance and scale our vision, product innovation and go-to-market efforts," Ravande continues. "This partnership will enhance our platform capabilities to integrate with enterprise systems, capture actionable insights, make recommendations for productivity and safety, and close the loop between assets and people.”
The investment was made from Vista’s Endeavor Fund, and along with the money, Vista's senior vice president, Ben Benson, will join the company's board of directors.
“Sundeep and his team possess the vision, talent and deep institutional knowledge to shape the future of connected worker solutions; we look forward to our partnership and helping them achieve their goals,” says Benson.
