Singapore-based Deskera is a cloud-based integrated business management software company that has raised $60 million from Jungle Ventures, Cisco Investments, Tembusu Partners, Susquehanna International Group, and InnoVen Capital. The funding will be used for increasing its research and development efforts and to drive better integration of its ERP system onto the Networked Trade Platform (NTP). And Deskera is aiming to launch more innovative solutions to its product portfolio and expand further into the US, Indonesia, Australia, and the Philippines.
“Our mission remains the same since day one, which is to provide SMEs with access to technology. With this investment, we aim to add more solutions to our portfolio and to continue our global expansion,” said Deskera CEO Shashank Dixit in a statement.
In the same announcement, Deskera also announced a new B2B commerce platform for small and medium-sized enterprises (SMEs) called Desk. The Desk platform enables SMEs to manage accounts, employees, finances, customers, and employees.
“Deskera’s product portfolio has potentials to change the way SMEs work across Asia,” added Jungle Ventures and Deskera Board Member Anurag Srivastava.
Tembusu Partners is one of Deskera’s largest shareholders via Tembusu ICT Fund I, according to The Business Times. Prior to this funding round, Tembusu had a 10% stake in the company. Tembusu ICT Fund I managing partner Brijesh Pande said that Deskera is one of the most promising enterprise tech companies in Asia and the company’s revenue grew nearly eight-fold in the past three years.
“We are the earliest institutional investor in the company and remain confident it has all the ingredients to become a tech unicorn,” said Pande via The Business Times.
Deskera’s revenue passed its $100 million target in 2017 and the company hit $42 million the year before. The company especially saw tremendous growth in India and Southeast Asia.
Currently, Deskera has over 300 employees worldwide with offices primarily in Southeast Asia like Singapore, Kuala Lumpur, and Jakarta. And the company also has offices in Dubai and in eight cities in India. Some of Deskera’s clients include Sushi Tei and Starbucks.
