Expertise for MSMEs: World non-public fairness (PE) agency Investcorp has acquired Unilog – a software-as-a-service (SaaS) based mostly e-commerce options supplier to small and medium enterprises (SMEs) – for an undisclosed sum. The PE agency stated on Thursday it has entered into an settlement to purchase Unilog, which is headquartered within the US and has worldwide headquarters in Bengaluru, that helps distributors, producers, and wholesalers enhance on-line gross sales, scale back the fee to serve, and improve their digital channel. “Unilog presents a beautiful alternative, because it operates in a big and rising addressable market pushed by e-commerce adoption, which has solely been additional accelerated amidst COVID-19,” stated Gaurav Sharma, Head of Non-public Fairness, Investcorp India. Unilog was Investcorp’s tenth funding within the Indian market over the past 4 years.
Led by Suchit Bachalli, Unilog’s SaaS enterprise has grown 3x in revenues since FY2018 serving over 350 SMEs at the moment in round $10 billion marketplace for software program answer providers to distribution and retail companies working within the US. “We’re thrilled to have their world model backing us as a capital companion. We strongly imagine this partnership will assist Unilog obtain our targets sooner,” stated Suchit Bachalli, CEO, Unilog.
To this point, Investcorp has made round 200 PE investments within the US, Europe, the Center East, and North Africa area and Asia, throughout a number of sectors together with software program, information analytics, cybersecurity, and funds. In India, it had made investments in mid-market firms and focuses on sectors together with client tech, healthcare, monetary providers, and expertise segments. InCred, ASG, Zolo, Citykart, Intergrow Manufacturers, Bewakoof.com, NephroPlus, Freshtohome, and XpressBees had been different firms that had been backed by Investcorp. “The main focus is on concentrating on first-generation entrepreneurs scaling up companies with asset-light fashions and confirmed unit economics,” the corporate stated. It had $32.2 billion in whole property beneath administration as of June 30, 2020.
The elevated adoption of e-commerce options has come amid Covid as companies shifted in direction of software program that provided simplification of advanced processes, stock administration, product data administration, intuitive search, integration with ERP, and different associated capabilities. In response to Statista, the e-commerce software program utility market will develop from $6 billion in 2019 to $7.3 billion in revenues globally in 2024.