Business Accounting Behemoth Vyapar Acquires SaaS Startup NeoDove

Business Wire India
Bengaluru-headquartered business accounting giant Vyapar acquired SaaS startup NeoDove for an undisclosed amount. With the acquisition, the two companies hope to step up their efforts to cater to the SME sector.
 
Both NeoDove and Vyapar are driven to make life easier for small and medium-sized businesses, and this acquisition comes on the back of meeting the growing demand for cutting-edge technologies for the less technologically-savvy SMEs.

 

It's incredibly inspiring to see how far we've come, as well as how our users have been able to scale and grow their businesses. Now with Vyapar’s support, we look forward to reaching even greater heights. — Arpit Khandelwal, Co-founder, NeoDove.

Vyapar and NeoDove
 
Founded in 2016 by Sumit Agarwal and Shubham Agarwal, Vyapar today is India's top GST billing, inventory and accounting software provider for small and medium businesses.
 
The Vyapar App allows businesses to manage their financial data from a single platform. Their rich range of features has enabled the growth of many MSMEs in the country. Moreover, since its inception, Vyapar has gained the trust of over one crore users.
 
The company also raised $30M in a Series B round led by WestBridge Capital in January 2022. Other investors in the round included IndiaMART and India Quotient. 

Building on our six years of success, the acquisition of NeoDove is our next big step to broaden the scope of problems that we solve for the MSMEs of India aligning to our larger goal of solving 360 degree problems of MSMEs" - Sumit Agarwal, CEO, Vyapar.

NeoDove, founded in 2020 by Arpit Khandelwal and Ankit Kumar Agrawal, provides a unique telecalling and sales engagement solution for small and medium-sized businesses. Through their unique CRM system, NeoDove provides their customers with features that are required to drive better results from their sales, marketing and customer engagement efforts.
 
In addition to their comprehensive and customizable features that help streamline the telecalling process, NeoDove is recognized as one of the best in the industry for their exceptional customer support.
 
Over 700 companies have been onboarded to date, and these companies are not just from India, but also from the United States, the United Arab Emirates, and Qatar.
 
Their Shared Vision
 
“Small and medium enterprises (SMEs) are the lifeblood of our economy. One of the major problems holding them back is that they lack access to proper technology.” - Ankit Kumar Agrawal, Co-founder, NeoDove
 
MSMEs make up 70% of all businesses in India and contribute about 29% to the GDP. But many business owners still struggle to cope with their growth due to the lack of efficient systems. A large percentage still rely on manual methods, such as pen and paper or just Excel for accounting and telecalling.
 
Through their respective platforms, Vyapar and NeoDove so far have assisted hundreds of businesses to ditch the tedious manual processes and implement a more sustainable process of doing business. The companies have been keen on responding to the concerns of their users by adapting their platforms accordingly.
 
By coming together and leveraging their uniquely designed platforms, they wish to influence millions more. Despite their independent business identities, both companies are aligned in the direction of working and moving forward together.

Banner - https://drive.google.com/file/d/1I21xx6LYD0HY2fNahSF7jIiRWkXStHQX/view?usp=sharing

AI Driven Contact Center Start-up NeoDove Raises Funding

Arpit and Ankit

NeoDove, a leading AI driven contact center automation platform, has been moving from strength to strength ever since its inception in January 2020. The rapidly growing SaaS enterprise now boasts of over 100 clients from 16 states across Finance, Education, Automobile, NGOs and other industries. Such has been the rapid growth registered by NeoDove that more than 1000 users are using their solution for reaching out to 20,000+ customers on a daily basis. Recently, the NeoDove success story received another stamp of approval when it successfully raised an undisclosed amount led by Ankit Garg, founder of WakeFit and others. 

NeoDove was founded by Ankit Agarwal (ex-Cvent and CarDekho) and Arpit Khandelwal (IIT Bombay alumni, ex-OLA) in January 2020. Both of them in their respective experiences and interaction with customers found gaps in business productivity and efficiency because of numerous problems like manual calling and follow ups, different platforms for different business activities, data pilferages, etc. The two Jaipur-based founders designed NeoDove as an effective solution for companies struggling to engage actively with their customers. After slogging it out for several months and numerous trial runs, they finally created this impressive platform.

Ankit says “We plan to expand our operations further by investing aggressively in product development and business growth activities. This latest round of funding validates our work philosophy that affordability and quality can go together. With our customizable platform, companies can increase their TeleSales, pre-sales and post-sales (service, recovery, feedback etc.) productivity to the next level.”

The noteworthy features of NeoDove include one-touch WhatsApp with preconfigured message template, auto-dialer for more calls per telecaller, integrations with all leading industry portals and social media channels to get all leads in one place, real time analytics and business intelligence for having better control on the business processes. It also hosts a market-place for meeting all inbound and outbound calling needs, SMS, etc. It also has customisable script builder, automatic flow of leads, AI-powered database management, geo-tagging, and multilingual interface.

When the COVID-19 induced pandemic ushered in an era of uncertainty for companies, NeoDove emerged as an effective solution for sales teams across companies. With its fine-tuned features, the platform allowed companies to come over the challenges posed by the coronavirus pandemic and explore a new and effective way of conducting their operations.

With the ‘new normal’ effectively in place and work from home becoming a norm, a platform like NeoDove is not less than a boon for the corporate sector. Not only is it allowing the companies to keep track of their customer interactions but has also been enhancing the productivity of the employees' manifolds; a true ‘win-win’ for all.

NeoDove is catering not only to the corporates in big metropolitan cities but small and medium-sized businesses in Tier-4 cities as well. While NeoDove aims to be a one-stop solution for SMBs, for their tele-sales, pre-sales and post-sales related requirements, it also aims to bridge the gap between educated women who are on a break due to lack of opportunities or to take care of their families and companies who are unable to hire good qualified workforce for telesales and other business processes.

Arpit says “Our vision is to get these women especially from tier 2 and tier 3 cities of India, to mainstream jobs and hence increasing productivity and decreasing cost for the SMBs using NeoDove’s platform.”

Over the last few years, the SaaS (Software as a Service) sector in India has been moving from strength to strength. With such exciting opportunities available, it is not a surprise that various start-ups have forayed into the market but with mixed results. As per the latest NASSCOM Report, SaaS in India is expected to register an impressive year-on-year growth of 35%. NeoDove has been one of the success stories of the Indian SaaS market. How it shapes its growth trajectory from here is a thing to see.