SaaS startup Paperflite secures $400K seed funding led by The Chennai Angels

Chennai based Software as a Service(SaaS) startup, Paperflite has secured a $400,000(Rs 2.5 crore) seed funding in an investment round led by The Chennai Angels. The round also saw participation from Like Mind Ventures led by Krishnan Srinivasan and a group of high-group net worth individuals led by Adrian Rusu from Singapore.

Other investors that participated in the round include Girish Mathrubootham, Founder, and CEO of Freshworks, T R Santhanakrishnan, CEO of Datatracks and ex-CFO of Sutherland Global Services, Mithun Sancheti, CEO of Caratlane.

Vinoth Kumar, co-founder, Paperflite said that the company will use the funding to strengthen its presence in the US and European markets and expand to emerging markets such as Latin America, Singapore, Malaysia, the Philippines, and India.

Lakshmi Narayanan, ex-Vice Chairman and ex-CEO of Cognizant who also participated in the round said, “Sales and Marketing are witnessing a massive Digital transformation to enable businesses to create an engaging buying experience for their customers at every touchpoint. I’m excited about the Paperflite team’s well-rounded experience to execute on this mission and their ability to translate this market opportunity to solve a critical problem of how companies interact with their prospect.”

Paperflite, started by three former Cognizant employees -Vinoth Kumar, Yega Kumarappan and Anant Bhat, the startup helps marketing and sales teams share content with their prospects and track how they engage with it.