How Much Did Hiver Raise? Funding & Key Investors

Hiver has successfully raised funding through multiple rounds, including a Series B round closed on January 25, 2022. The platform is designed to enhance customer service by leveraging AI and workflows.

Keep reading to explore the intricacies of Hiver's fundraising journey and the investors backing this innovative platform.

What Is Hiver?

Hiver, founded in July 2011 by Niraj Ranjan Rout and Nitesh Nandy, is headquartered in Palo Alto, California. The company specializes in transforming Gmail into a collaborative platform, enabling teams to manage shared email accounts efficiently.

With a workforce of 101-250 employees, Hiver serves over 1,500 customers across 30 countries, including notable names like Hubspot and Harvard University. The platform is designed to enhance customer service by leveraging AI and workflows.

Hiver's innovative approach allows teams to assign emails as tasks, automate processes, and gain insights into team performance, ensuring fast and empathetic customer service.

How Much Funding Has Hiver Raised?

1. Pre-Seed Round
   • Amount Raised: Not publicly disclosed
   • Date: November 2011
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: Initial seed capital to kickstart the company.
2. Series A
   • Amount Raised: $4M
   • Date: October 2018
   • Lead Investors: Kae Capital, Kalaari Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale the business and expand its market presence.
3. Debt Financing
   • Amount Raised: $4M
   • Date: February 2021
   • Lead Investors: Mars Growth Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To aggressively expand sales and marketing efforts, aiming to double the company's revenue in 2021 and 2022.
4. Series B
   • Amount Raised: $22M
   • Date: January 2022
   • Lead Investors: K1 Investment Management
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To enhance customer service capabilities and further develop AI and workflow features.

Total amount raised: $30M. Current valuation: Not publicly disclosed.

Key Investors

• K1 Investment Management
  • Details: K1 Investment Management is a private equity firm based in Los Angeles, California. They specialize in investing in high-growth enterprise software and technology-enabled companies.
  • Investment Focus Areas: Enterprise software, technology-enabled services, SaaS.
  • Notable Investments: Apttus, Smarsh, Jobvite.
• Mars Growth Capital
  • Details: Mars Growth Capital is a joint venture between MUFG Bank and Liquidity Capital, focusing on providing debt facilities to fast-growing startups. They are based in Singapore and target the Asia-Pacific region.
  • Investment Focus Areas: E-commerce, SaaS, technology startups.
  • Notable Investments: Not publicly disclosed.
• Kae Capital
  • Details: Kae Capital is an early-stage venture capital firm based in Mumbai, India. They focus on investing in technology-driven startups with high growth potential.
  • Investment Focus Areas: Technology, consumer internet, healthcare.
  • Notable Investments: HealthKart, 1mg, Fynd.
• Kalaari Capital
  • Details: Kalaari Capital is a venture capital firm based in Bangalore, India. They invest in early to growth-stage technology companies across various sectors.
  • Investment Focus Areas: Technology, e-commerce, digital media.
  • Notable Investments: Myntra, Dream11, CureFit.
• Citrix Startup Accelerator
  • Details: Citrix Startup Accelerator is an early-stage investor that provides funding and support to technology startups. They are part of Citrix Systems, a multinational software company.
  • Investment Focus Areas: Technology, enterprise software, cloud computing.
  • Notable Investments: Not publicly disclosed.

What's Next for Hiver?

Hiver stands at the cusp of significant growth opportunities, driven by the increasing demand for integrated customer service solutions. With a focus on expanding sales and marketing efforts, the company aims to double its revenue in the coming years. The potential for further debt or equity financing remains strong, especially given the positive market response to their strategic shift towards customer service helpdesk solutions.

However, Hiver will need to navigate challenges such as intense competition and maintaining scalability as they grow. The company’s ability to innovate and adapt to market trends will be crucial in securing future investments and achieving sustained growth.

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