InnovizeTech Software, an Indian Angel Network funded company, selected as a 2011 Red Herring Top 100 Asia Company
Pune, India – October 24, 2012 - Red Herring announced on Thursday in Hong Kong that it has chosen Pune-based InnovizeTech Software as a 2011 Red Herring Top 100 Asia Company for its innovations and technologies.
InnovizeTech has developed Sapience, which is a US and India patent pending solution with no equivalent today, that help companies to increase work output by 15-20%.
InnovizeTech founded by four serial entrepreneurs Shirish Deodhar, Madhukar Bhatia, Swati Deodhar and Hemant Joshi, is funded by Indian Angel Network comprising best known IT CEOs, entrepreneurs and investors.
The Red Herring Top 100 Asia award recognizes leading private companies from Asia, celebrating these startups’ innovations and technologies across their respective industries.
Shirish Deodhar, InnovizeTech co-founder, said that, “InnovizeTech’s selection as a Red Herring Asia 100 Winner validates the market potential and business strategy of Sapience.
“Sapience’s impact on delivery capability, revenue and profitability is transformational since it does not entail any change in process or additional management overhead. Our client portfolio is expanding rapidly to include large and medium IT Services companies like Zensar and InfoBeans, product ISVs including IDeaS and Bio-Analytical Technologies, and Engineering Services firms such as EnVenture and Excelize. We have initiated a large number of pilots, including at two of India’s Top 10 IT companies.”
Indian Angel Network (IAN) member Harish Mehta who represents IAN on the InnovizeTech board said, “Red Herring’s recognition of InnovizeTech reinforces the IAN investment in the company. Its product, Sapience, built around core Intellectual Property owned by InnovizeTech, caters to the vital organization need for people efficiency.
“With distributed teams, flexi hours, work from home, contracting and outsourcing becoming the norm at today’s enterprises, we felt that Sapience was the need of the hour, and this recognition and customer pull has borne it out.”
Sapience’s key USP is that it delivers automated visibility into Enterprise Effort. It is cloud based, though an on-premise option is available for large enterprises.
“Choosing the companies with the strongest potential was by no means a small feat,” said Alex Vieux, publisher and CEO of Red Herring. “After rigorous contemplation and discussion, we narrowed our list down from hundreds of candidates from across Asia to the Top 100 Winners.
We believe InnovizeTech embodies the vision, drive and innovation that define a successful entrepreneurial venture. InnovizeTech should be proud of its accomplishment, as the competition was very strong.”
Red Herring selected the companies on the basis of their financial performance, technology innovation, management quality, strategy, and market penetration. This assessment is complemented by a review of their track record and standing relative to their sector peers, making the list a valuable instrument of discovery and advocacy for the most promising new ventures in Asia.
Red Herring is a global media company uniting the world's best high technology innovators, venture investors and business decision makers in a variety of forums.
About InnovizeTech Software – www.innovizetech.com
InnovizeTech has been founded by four serial entrepreneurs, with a strong product DNA. They have 100+ years of combined experience of technology and management at global software companies. Their previous companies were in outsourced product development, which had successful exits to VERITAS Software (now Symantec Inc.) in 1999, and Symphony Services Inc. in 2004. InnovizeTech’s product, Sapience, is a patent-pending solution that enables companies to transform their work efficiency. InnovizeTech is funded by Indian Angel Network.
About Indian Angel Network
The Indian Angel Network is India's largest and only national network of business angels investing in start-ups, early stage ventures with a unique model of incubator. IAN today has an investor base of over 170 angels.
As a part of this Network built "By Entrepreneurs and For Entrepreneurs", investees can gain access to the vast business network of IAN's influential members, strategic direction, and operational guidance apart from financial investment which is critical for creating large, valuable companies. IAN has seen several exits with one of the recent ones giving 5x over 15 months.
More details: www.indianangelnetwork.com
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