Corporate Mergerware Solutions Pvt. Ltd, a startup that provides software solutions for post-merger and acquisition integration, has raised $100,000 (about Rs 65 lakh) from existing investor Philippe Bouchet, who is a former vice president at French energy management firm Schneider Electric.
The company will use the fresh capital for its global expansion plans, Dharmendra Singh, co-founder and CEO, MergerWare told VCCircle.
“We are going global. We see very strong demand from the US and Europe and most of our leads are coming from large firms. We have a partner in Sidney who is looking after the Asia-Pacific region and we will soon be opening offices in Singapore and France,” Singh said.
The latest transaction is part of a $5 million (Rs 32 crore) Series A round that the company expects to close by the end of this quarter. “We have a lead investor on board and have received commitments from a group of investors from Japan, Europe and the US for the Series A round along with our existing investors. We only want to associate with investors who understand M&A,” he added.
MergerWare, earlier known as Intgrea Partners, offers a software-as-a-solution application that companies can use to run their M&A processes, including deal discovery, due diligence, HR integration, document-restoration and information access control. It also helps them manage deals that are in the pipeline.
The Bangalore-based company, owned and operated by Corporate Mergerware Solutions Pvt Ltd, had raised $110,000 in angel investment from a group of investors, including Philippe Bouchet in June 2016.
The company had used the angel money to build the product and run a pilot programme with 10 clients. “We tested our product with a set of companies, of which three are already our clients. Many others in the pilot programme are likely to use the platform when they go for another deal,” said Singh.
Mergerware was founded by Dharmendra Singh and Sanjay Singh in December 2015. Dharmendra was previously global leader of corporate M& after the merger integration at Schneider Electric. Sanjay is no longer with the company.
The SaaS-platform is offered on a subscription-based model. The target customers are companies looking to buy other firms and global consultants who facilitate M&A integrations.
The company, which underwent a rebranding last month, allows customers to define their M&A processes, and deploy and track them on the platform. It expects to hit $1 million in revenue by 2017-18-end.
It offers business plan tracking, a feature that allows managers to map out the reasons behind an acquisition, besides tracking and measuring the effectiveness of the acquisition once the deal is completed – essentially, the SaaS platform helps companies measure the success or failure of a buyout. It also offers a common reporting and communications structure to large companies and eliminates manual tracking processes.