Prismforce nabs $13.6M in funding from Sequoia Capital; eyes expansion

Date: November 30, 2022

Prismforce nabs $13.6M in funding from Sequoia Capital; eyes expansion

Prismforce, an Indian-U.S. startup helping IT and tech services companies build better talent supply chains, has reportedly raised $13.6 million in a Series A funding headed by Sequoia Capital India. Apart from Sequoia Capital India, several other global investors also participated in the funding round.

A year ago, Prismforce secured $1.8 million seed funding from select industries through leaders, SaaS founders as angels, and serial entrepreneurs. With this, the firm's total funding is valued at $15.4 million.

According to sources, the firm plans to inject this fresh funding to enhance its product suite, increase its talent base and strengthen go-to-market capabilities.

Speaking on the latest move, Somnath Chatterjee, Founder & CEO of Prismforce, stated that having served over 30 top global IT providers and tech firms for the last 14 years while at McKinsey, the firm has seen the opportunity to offer a solution to this complex problem with a product first approach.

Somnath mentioned that the firm plans to develop the first vertical SaaS product suite for tech services. These products are developed after combining the best technology and practice processes into one powerful and scalable solution that will assist the firms in building a digital as well as agile talent supply chain.

The CEO also noted that the firm is using the latest AI technologies to create compelling use cases contextualized as per the needs of the industry.

Somnath went on to say that this partnership with Sequoia Capital India will enable Prismforce to accelerate its product development and business growth to serve the tech sector on a global level.

For the uninitiated, Prismforce operates in India and USA with live installations at several fast-growing digital specialists and top IT providers. Its software suite of talent marketplace, skill management, and forecasting assists technology businesses in planning efficiently, staffing, and delivering projects while offering captivating career growth for their employees.

This helps the enterprise to grow sustainably and profitability, along with better employee engagement.

Source credit - https://www.businesswire.com/news/home/20221129005665/en/Prismforce-a-Vertical-SaaS-for-Tech-Services-Raises-13.6-Million-in-Series-A-Round-Led-by-Sequoia-Capital-India

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Meghna Singh

An English Literature graduate, Meghna Singh ventured into the profession of content development to incorporate her knack for writing articles across verticals including technology, healthcare, business, and alike for News Origins and Newsorigins. She has also completed her MBA in Tourism and worked as a content creator in the field of product development.

Prismforce nabs $13.6M in funding from Sequoia Capital; eyes expansion