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| Pune, December 12, 2011: |
| Pune-based entrepreneurial firm, InnovizeTech Software, has strengthened its management team with the induction of Avinash Sethi and Ranjit Nambiar to give a big thrust to sales and marketing of its flagship software product Sapience, a patent-pending cloud-based solution. |
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| Sapience powers a 15-20% increase in work output for companies, without requiring any change in existing process or additional management effort. It is an exciting new player in India’s emerging software product story. The company is founded by 4 entrepreneurs with strong product DNA and track record of building successful companies. |
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| InnovizeTech Software, funded by India’s oldest angel group Indian Angel Network in mid 2010, received Series A funding of Rs 4.5 crores from Seed Enterprises last month. |
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The management team has been strengthened with the induction of Avinash Sethi as the Chief Marketing Officer and Ranjit Nambiar as Vice President of Sales. |
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Ranjit joins InnovizeTech from Dell India after a successful stint of 6 years, where he rapidly rose to the position of India Head, S&P and Transactional Services Business. He brings in over 16 years of experience in Sales and growing business exponentially in the large Enterprise segment that included the Top Global 500 organizations. |
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“My energies would focus on building and leading a top notch Sales team. I would personally drive adoption of Sapience among large enterprises. With its capability to generate significant gains in work output at companies, Sapience has the makings of a star software product from India,” says Ranjit Nambiar, Vice President of Sales. |
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| Avinash Sethi as the Chief Marketing Officer at InnovizeTech will focus on helping the company grow into the next orbit. Avinash, an MBA from IIM, Indore and a graduate in Electrical Engineering, has 15 years of experience with successful stints at Tata Consultancy Services and Intel before establishing the Indian operations of InfoBeans, followed by the UK and Pune offices. |
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| “At InnovizeTech, I intend to build strong partnerships with customers by gaining insights into their needs. We don’t want to just sell a product, but wish to be a partner in growing revenue and increasing profit for our customers through our innovative solution, Sapience.” says Avinash Sethi. |
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Welcoming the new members, Shirish Deodhar, InnovizeTech Co-founder and CEO, said, “We are entering a strong growth phase now. The addition of Avinash Sethi and Ranjit Nambiar will help us ramp up sales and marketing effort, and expand our ability to aggressively reach out to our customer base. We shall continue to get strategic inputs from our experienced Board members consisting of Harish Mehta and Mitesh Bohra.” |
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| While Mehta represents Indian angel Network on the Board, Mitesh joined recently on behalf of Seed Enterprises. Indian Angel Network members Rehan yar Khan and Rajan Anandan serve on the advisory board of InnovizeTech. |
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| Sapience’s delivers automated visibility into Enterprise Effort. It is cloud based, though an on-premise option is available for large enterprises. The client portfolio is expanding rapidly, and currently includes large and medium IT Services firms like Zensar, product ISVs (IDeaS, Bio-Analytical Technologies), KPOs (SG Analytics), and Engineering Services companies such as EnVenture and Excelize. |
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| About InnovizeTech Software – www.innovizetech.com |
InnovizeTech Software is an exciting new player in India's emerging software product story. It has been founded by four serial entrepreneurs, with a strong product DNA, and 100+ years of combined experience of technology and management at global software companies. Their previous ventures had successful exits to VERITAS Software (now Symantec Inc.) and Symphony Services Inc. |
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InnovizeTech’s product, Sapience, is a patent-pending and award-winning solution that enables companies to achieve significant gains in work output - effortlessly. |
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About Indian Angel Network |
The Indian Angel Network is India's largest and only national network of business angels investing in start-ups, early stage ventures with a unique model of incubator. IAN today has an investor base of over 180 angels. As a part of this Network built "By Entrepreneurs and For Entrepreneurs", investees can gain access to the vast business network of IAN's influential members, strategic direction, and operational guidance apart from financial investment which is critical for creating large, valuable companies. IAN has seen several exits with one of the recent ones giving 11.5x over 42 months. |
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