CertifyMe Raises Undisclosed Amount In Seed Funding Round Led By Callapina Capital
The funds will be utilized to expand CertifyMe's range of SaaS products in the digital credentials space besides investments in venturing into new domains such as e-commerce, luxury and HR tech
CertifyMe on Tuesday announced to have raised an undisclosed amount of seed fund led by Callapina Capital, an investment firm founded by Anas Rahman Junaid, founder and MD of Hurun India and Vinod Jose, partner of Konglo Ventures, along with other individual investors. The funds will be utilised to expand CertifyMe's range of SaaS products in the digital credentials space besides investments in venturing into new domains such as e-commerce, luxury and HRtech.
"We started small during the pandemic and have grown to process more than 100,000 credentials and five million social media impressions in this short span. Today, the platform is used across the globe by 700-plus enterprises in over 70 countries. With a growing need for digital credentials and the market estimated to be close at $45 billion by end of 2027, we are excited about the growth opportunity and the potential to consolidate our market leadership position," said Ranjith Tharayil, founder and CEO, CertifyMe.
The Indian SaaS market has been moving north of late. As per a report by Bain & Co., the revenue of Indian SaaS companies is poised to reach $30 billion by 2025, roughly eight per cent to nine per cent share of the global SaaS market. The number of Indian SaaS exits also increased 100 per cent from six in 2018 to 12 in 2021, with the Freshworks initial public offering (IPO) initiating a new wave of exits, added the report.
"The team at CertifyMe has developed a secure and cutting edge credential issuance/ management platform aimed at every node of the value chain, across industries, in use cases ranging from authentication to felicitation. Within a year since incorporation, CertifyMe has already on boarded 650-plus enterprise customers. I am very stoked about backing CertifyMe and Ranjith's vision, and plausibly witness the creation of a world-class company, made in India," said Anas Rahman Junaid, founder, Hurun India.
Founded in 2021 amidst the pandemic by Ranjith Tharayil, CertifyMe is an online end-to-end solution for creating, issuing and managing digital credentials. The platform is built keeping a security first mind-set. It ensures seamless verification, increased brand visibility and assists the awardee in publishing one's credentials across 50-plus social media sites. Powered by user friendly technology that is easy and secure to use besides being cost effective, it provides a custom domain to each customer and can be hosted on the website.