World supervisor of different funding merchandise Investcorp has introduced the acquisition of majority shares in SaaS-based ecommerce options supplier Unilog.
As a part of the deal, Investcorp picked up stakes of early traders Kalaari Capital, together with 22 particular person traders. Kalaari Capital, which invested $3 million in Unilog in 2015, held 17.75% stake within the US firm, in accordance with knowledge on VCCEdge.
Philadelphia headquartered Unilog, which has a global workplace in Bengaluru, works with mid-market B2B purchasers within the manufacturing, distribution and wholesale house. The corporate’s suite of merchandise offers cloud-based commerce platform and product knowledge enrichment providers to 350 SMBs within the US.
“Investcorp shares our imaginative and prescient for the expansion potential of SaaS within the SMB house,” Suchit Bachalli, CEO of Unilog, stated in an announcement. “We’re thrilled to have their world model backing us as a capital associate. We strongly consider this partnership will assist Unilog obtain our objectives quicker.”
Bachalli based Unilog in 1998 to supply on-line content material administration software program, however later pivoted to supply SaaS for B2B ecommerce corporations.
Investcorp’s India investments embody these in mid-market corporations within the shopper section, equivalent to NBFC enterprise InCred, co-living providers supplier Zolo, on-line supply platform for meat and seafood Freshtohome and logistics participant Xpressbees.
“Unilog has a historical past of delivering a top quality providing that’s on a par with a few of the largest enterprise answer suppliers. We’re wanting ahead to leveraging our institutional data in B2B distribution and ecommerce to assist Unilog ship their platform to the broader small and midmarket sector,” Varun Laul of Investcorp India, stated.
The SaaS house noticed massive bets in 2020 because the pandemic pushed companies to speed up digitisation. In December, cloud-based SaaS supplier for spa and salons, Zenoti, turned a unicorn with a $160 million capital infusion. In December, gross sales automation platform LeadSquared raised $32 million in a spherical led by Gaja Capital.