MoveInSync, a Bangalore, India-based employee transportation management startup, has raised $15 million in Series C funding.
The round was led by Bessemer Venture Partners, with participation from existing investors such as Saama Capital, Qualcomm Ventures, Athera Venture Partners, and Nexus Venture Partners.
Founded in 1911, Bessemer Venture Partners is a venture capital firm based in Redwood City, California. The firm seeks to invest in the software, cloud tech, cryptocurrency, web tech, consumer, enterprise, and healthcare sectors. The firm has additional offices based in San Francisco, Boston, New York, Larchmont, Bangalore, Tel Aviv, and London.
MoveInSync Use of Funds
The company will use the funds to expand MoveInSync One, its commute solution covering fleet, operations, and technology. The new funding will support the company's growth, and it aims to capitalize on opportunities created by government initiatives to promote manufacturing in India.
Founded in 2009, MoveInSync provides transportation solutions operating within the transport management and software industry. The company offers a range of services including employee commute solutions, transport operations outsourcing, and software solutions for risk mitigation, compliance, and improving employee experience. Its solution MoveInSync One, is an end-to-end employee commute solution that helps enterprises offer cost-effective and efficient commuting options for their employees. The platform has been gaining traction, particularly in the IT, ITES, and banking and finance sectors.
Company: MoveInSync Technology Solutions Private Limited
Round: Series C
Funding Month: January 2024
Lead Investors: Bessemer Venture Partners
Additional Investors: Saama Capital, Qualcomm Ventures, Athera Venture Partners, and Nexus Venture Partners
Company Website: https://moveinsync.com/
Software Category: Transportation