HOUSTON, April 17, 2019 /PRNewswire/ -- Innovapptive, a leading connected workforce platform for asset intensive industries, announced today a Series A investment of $16.3 million led by Tiger Global Management, LLC, a New York investment firm. The financing will be used to fund Innovapptive's continued global expansion and for further investment in its connected workforce platform. The new funding brings the company's valuation to more than $65 million.
Innovapptive's connected workforce platform connects the industry worker, back office and company leadership to help customers minimize plant outages by reducing maintenance backlogs, improving inventory accuracy, workforce capacity and data accuracy. As a result, Innovapptive customers are growing their revenues and profitability.
"We are connecting the enterprise by providing a platform that improves real-time data collaboration and communications between the field and back office. The communications and collaboration data are captured and converted into executive insights for continuous workforce optimization," said Sundeep Ravande, CEO and Co-founder of Innovapptive. "This additional capital will allow us to accelerate our strategy and development to transform the digital experience of the industrial worker to help increase revenues & margins for our customers."
"Innovapptive has developed a leadership position helpin industrial companies improve the productivity of their employees and their capital assets," said Scott Shleifer, Partner at Tiger Global Management.
About InnovapptiveInnovapptive is a global leader for industrial connected worker solutions with a purpose to help improve people's lives with the next generation Connected Workforce Platform™. The platform digitally connects the entire industrial workforce, executives and back office to minimize plant outages and improve operational excellence. By engineering a platform that fuels innovation and collaboration, Innovapptive is transforming the experience of the industrial worker to increase revenues and margins for its customers. Innovapptive is headquartered in Houston, Texas with offices in Australia, Netherlands and India. Learn more at www.innovapptive.com
About Tiger Global Management:Tiger Global Management, LLC is an investment firm that deploys capital globally. The firm's fundamentally oriented investments focus primarily on the global Internet, software, financial technology, consumer and industrial sectors. The private equity strategy has a ten-year investment horizon and targets growth-oriented private companies. Such investments have included Spotify, Harry's, Warby Parker, Peloton, JD.com, Facebook, LinkedIn, Yandex, Mail.ru Group, Despegar, Ola and Flipkart. The public equity efforts emphasize deep due diligence on individual companies and long-term secular themes. Tiger Global Management, LLC was founded in 2001 and is based in New York with affiliate offices in Hong Kong, Singapore, Bangalore and Melbourne.
Media Contact:Rich WitmerDirector of MarketingInnovapptive, Inc.Rich.Witmer@innovapptive.com 713-275-1804
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