10 May, 2016
Beroe Inc., a global leader in procurement intelligence and analytics announces the closure of the first tranche of a $10 million fund raise. The round is led by Access India Fund, a private equity fund specializing in investments in the Indian mid-market sector and advised by MAPE Advisory Group.
Beroe will deploy these funds towards further investments in category expertise, technology and aggressive revenue growth.
"Access' vast experience with services companies of similar size and their shared vision and ambition for our business makes it a perfect partnership. I look forward to the fast track growth journey we have ahead of us," Beroe Chief Executive, Vel Dhinagaravel said.
"Procurement analytics is a high growth, sunrise industry globally. Beroe has been investing aggressively in its services and its new innovative technology platform will be a game changer. Vel's passion, the management team's track record and their superb clientele make it an attractive investment for us," said Nilesh Mehta, Managing Partner, Access Asset Managers.
About Beroe Consulting India Private Limited:
Beroe's unique business model involves providing market intelligence and analytics to the procurement teams of large businesses across the globe. Beroe leverages its deep domain expertise in 300 + categories across 14 industries. It boasts of more than 80 of the Fortune 500 companies as its clients.
About Access Asset Managers (Access):
Access is manager to Access India Fund, a fund focussing on mid-market private equity investments in India. Access was founded by Nilesh Mehta and Sangeeta Modi in 2011. Its other investments include J K Shah Classes, Nobel Hygiene Ltd, Alliance Insurance Brokers and Teleysia Networks.