MoveInSync, a software-enabled full-stack mobility platform specializing in workplace commute solutions, raised $15 Million in a Series C funding round led by Bessemer Venture Partners.
The Rainmaker Group acted as the exclusive financial advisor on the transaction.
The funds raised will be directed towards (i) the growth of MoveInSync One, a comprehensive commute solution covering fleet, operations, and technology that helps enterprises offer cost-effective commutes for their employees (ii) the expansion of business in the international target markets including the Philippines, South Africa, and the Middle East and (iii) additionally, a portion of the funds will be allocated for employees to liquidate their Employee Stock Ownership Plans (ESOPs).
Deepesh Agarwal, Founder, MoveInSync, said, “The fundraising journey was long, and having an experienced partner in TRMG helped. Most of the investors we met called out that the material shared by TRMG was good quality and detailed. Their passion and hard work was evident in the outcome. I enjoyed our journey together!”
Radha Madhuri Chakka, Principal at The Rainmaker Group, said, “MoveinSync is the runaway market leader in the enterprise workplace commute in India. As 50%+ of the commuting dollars are spent on traveling to the workplace, MoveinSync is solving that efficiently for blue-chip enterprises across markets. Customers deeply value their offerings and the same is reflected in the high retention, high NPS, and superior sales conversion ratios. The key highlight of the business is the successful overlay of tech-driven services business on the top of a high-margin software stack and this structure has created a predictable path to clock INR 1500-1800cr topline in the next 3 years. With 10+ years experience of transforming the enterprise workplace commute in the country, MoveinSync is well positioned to expand its offerings in other global markets aggressively.”
About MoveInSync
MoveInSync is the largest employee commute platform in the country. They have two primary offerings, MoveInSync One and MoveInSync ION. MoveinSync One is a SaaS product that helps enterprises digitize and automate their workplace commute operations. MoveInSync One delivers bespoke end-to-end enterprise commute solutions combining fleet sourcing and operations with the technology. They are dominant #1 in this category serving 500K employees daily across 300+ enterprises including 70 Fortune 500 companies. Along with India, the business is present in other global geographies including Philippines, Malaysia, South Africa, and the Middle East.
About The Rainmaker Group
The Rainmaker Group is the investment banking partner of choice for India’s private businesses as they traverse their fundraising journey - from their first growth round to pre-IPO. The firm has delivered growth equity and secondary transaction milestones for over a dozen unicorns, soonicorns, and now-listed businesses.
The firm’s ‘rainmakers’ pride themselves on a founder-like mindset and a proprietary execution process that has delivered industry-leading closure rate and client retention. The Rainmaker Group’s relationship with global investors is underpinned by thoughtful client selection and an insight-driven approach to dealmaking.
To know more about The Rainmaker Group, get in touch with Dhwani Mehta
Dhwani Mehta - dhwani.mehta@trmg.in
