Many small and medium-sized companies juggle more than 40 separate software and handle revenue, communications, accounting, customer service, and other activities according to technology pipeline startup Hevo. Both of these technologies are valuable data points that can be analyzed to enhance the efficiency of an organization. Nonetheless, the data also stays separate, making cooperation between multiple teams challenging
Hevo allows the staff of its clients to combine data from more than 150 different outlets, including Salesforce and Oracle business applications, even though they have little technology expertise at all. The business today revealed it has raised an $8 million Series A round led by Singapore-based venture capital fund Qualgro and Lachy Groom, a former executive at the Stripe payment agency.
The fund, which takes the cumulative amount of Hevo raised to $12 million so far, also included investment from returning investors Chiratae Ventures and Surge, the early-stage venture initiative for Sequoia Capital India. TechCrunch followed the company for the first time when it received seed money in 2017.
Hevo’s Series A will be used to recruit sales and marketing staff in more countries, including the United States and Singapore, to expand the number of integrations available on its website. The company now has clients in 16 countries including the U.S., China, France, Australia, and Hong Kong, and its clients include the payment service Marqeta.
Puneet Bysani, Marqeta’s software lead manager, said in a statement, “Hevo saved us a lot of technical hours and our data teams could concentrate on generating concrete KPIs that add value to Marqeta’s market. We were able to bring data from several sources into Redshift and Snowflake very easily using Hevo’s pre-built connectors.
Hello, headquartered in Bangalore and San Francisco, was founded in 2017 by Manish Jethani, chief executive manager, and Sourabh Agarwal, chief technical officer. The two previously founded SpoonJoy, a food supply company acquired in 2015 by Grofers, one of India’s leading online grocery distribution companies. Jethani and Agarwal worked at Grofers for a year before going back to Hevo.
Hevo then collects and organizes the data dynamically from those channels and manages it for cloud-based data centers such as Amazon Redshift and Snowflake. A device interface lets companies configure integrations or cover confidential details.
Hevo is among a roster of “no code, low code” companies that recently raised venture capital funds to create applications that enable non-developers to add apps to their current software. The founders say their most direct rival is Fivetran, a corporation headquartered in Oakland, California, which also installs pipelines to transfer data to warehouses and prepare it for review. Hevo differentiates by “optimizing our software for non-technical consumers,” Jethani said.
Hevo also focuses on the incorporation of real-time data, which is particularly relevant for businesses delivering on-demand delivery or services. Since the COVID-19 pandemic, Jethani claims e-commerce companies have used Hevo to handle an explosion of orders as consumers ordering more products online under stay-at-home orders.