
Total amount raised
$130.1 Millions
Latest funding date
8/1/2024

Location
Servify has successfully raised significant capital through multiple funding rounds, including a recent Series D round. The platform specializes in device management services and warranty solutions, attracting a diverse group of investors.
Keep reading to explore the intricacies of Servify's fundraising journey and the investors backing this innovative platform.
What Is Servify?
Founded in November 2015 by Sreevathsa Prabhakar, Servify is headquartered in Mumbai, Maharashtra, India. The company specializes in device management services and warranty solutions, aiming to streamline the after-sales experience for consumers.
Servify offers a range of services, including protection plans, exchange programs, and affordability programs, partnering with leading brands to ensure superior after-sales service. The platform leverages AI-powered decision-making for claim resolutions and integrates with OEMs, insurers, and service partners.
With a workforce of 501-1000 employees, Servify continues to innovate in the product lifecycle management space, providing seamless solutions for consumers and businesses alike.
How Much Funding Has Servify Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: November 2016
- Lead Investors: BEENEXT, Blume Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop the initial platform.
- Series B
- Amount Raised: $15M
- Date: August 2018
- Lead Investors: Iron Pillar
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance service offerings.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: January 2019
- Lead Investors: Trifecta Capital Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational costs and growth initiatives.
- Series C
- Amount Raised: ₹858.7M
- Date: June 2020
- Lead Investors: Iron Pillar
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and invest in technology.
- Series C
- Amount Raised: $23M
- Date: September 2020
- Lead Investors: Iron Pillar
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand market presence and enhance service capabilities.
- Series D
- Amount Raised: $65M
- Date: August 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand into new markets.
- Series D
- Amount Raised: ₹165M
- Date: April 2023
- Lead Investors: Crescent Enterprises Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and expand the customer base.
- Debt Financing
- Amount Raised: ₹300M
- Date: April 2023
- Lead Investors: Trifecta Capital Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and growth initiatives.
- Debt Financing
- Amount Raised: ₹500M
- Date: August 2024
- Lead Investors: InnoVen Capital, Trifecta Capital Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel expansion and operational growth.
- Series D
- Amount Raised: ₹340M
- Date: August 2024
- Lead Investors: Bajaj Holdings and Investment
- Valuation at Round: ₹7,074 crore ($852 million)
- Motivation Behind the Round: To support further growth and market expansion.
Total Amount Raised: $125 million. Current Valuation: $852 million.
Key Investors
- Bajaj Holdings and Investment
- Details: Bajaj Holdings and Investment is a prominent investment company in India, part of the Bajaj Group. It focuses on long-term investments in various sectors.
- Investment Focus Areas: Financial services, consumer goods, manufacturing.
- Notable Investments: Bajaj Auto, Bajaj Finserv, Bajaj Electricals.
- Iron Pillar
- Details: Iron Pillar is a venture growth investor specializing in mid-stage technology companies. It aims to support companies in scaling their operations globally.
- Investment Focus Areas: Technology, SaaS, consumer internet.
- Notable Investments: FreshToHome, Uniphore, CoreStack.
- InnoVen Capital
- Details: InnoVen Capital is Asia's leading venture debt provider, offering debt financing to high-growth companies. It operates across India, China, and Southeast Asia.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Swiggy, Byju's, OYO Rooms.
- Trifecta Capital Advisors
- Details: Trifecta Capital Advisors is a leading venture debt firm in India, providing structured debt solutions to high-growth companies. It aims to bridge the gap between equity and traditional debt.
- Investment Focus Areas: Technology, consumer services, healthcare.
- Notable Investments: BigBasket, UrbanClap, CarDekho.
- BEENEXT
- Details: BEENEXT is a venture capital firm that invests in early-stage technology startups. It focuses on supporting entrepreneurs in emerging markets.
- Investment Focus Areas: Fintech, e-commerce, SaaS.
- Notable Investments: Zilingo, NoBroker, Khatabook.
What's Next for Servify?
Servify stands at the cusp of significant growth opportunities, driven by the increasing demand for reliable post-sales services for electronic devices. With a valuation of $852 million, the company is well-positioned to expand its service offerings and enter new geographical markets. The recent $10 million funding round, led by Bajaj Holdings, Trifecta, and Innoven Capital, underscores investor confidence and the vast potential in the post-sales service market.
Future fundraising opportunities appear promising, given Servify's robust growth trajectory and market potential. The company is likely to attract further equity and debt financing to support its expansion plans and technological advancements. However, challenges such as maintaining high service quality, managing operational costs, and navigating regulatory requirements in different markets could pose hurdles as the company scales. Despite these challenges, Servify's strategic focus on enhancing service offerings and leveraging technology positions it well for continued success.
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