App development and testing platform Buildpan has raised $500,000 from SOSV, 9point8 and Head of PayPal India. The funding brought the valuation of this Indore-based SaaS start-up to 5 million.
Sonal Dandotia, Co-founder and CFO, BuildPan, has envisioned to get 1.5 percent of the total market size by building high-end technology and infrastructure through this funding.
Till the end of this year, the annual recurring revenue is expected to be cross $1300000 as the monthly recurring revenue is $50000. With the fresh funds, BuildPan is ready for global expansion and scaling-up of its team.
The process of creating, testing and deploying an app from scratch involves too many convoluted stages. However, the autosuggestions provided by BuildPan’s AI engine make the work of the developers comparatively more straightforward in Android and iOS operating systems.
It also helps the developers and start-ups to detect crashes, bugs and device compatibility without putting much effort as this platform uses artificial intelligence and machine learning to detect errors in the continuous integration and deployment.
Nevertheless, BuildPan is capable of providing virtual audit reports to enterprise clients as well as to start-ups.
Partner at SOSV, Oscar Ramos said that the team behind BuildPan is capable of launching top-notch technology and recognising the true requirement of mobile developers.
Now that financial standing of BuildPan strengthened, members at SOSV is looking forward to work with them to add value to high-end CI/CD platforms for developers across the world.
Being the fourth most active investor in India with $740 million of assets under management, SOSV has taken an initiative to back BuildPan by investing in it.
Currently, SOSV has prioritised seed and early-stage investment so that it can be a part of those companies right from the beginning.
Another advantage that BuildPan is having is its co-founder and chief technology officer, Anthony Wentzel. He has a robust experience history with NASA, Amazon and Microsoft. He has the right fit for completed the team of its founders, including Sonal Dandotia, Virendra Chouhan, and Vaibhav Tiwari.
Previously, this SaaS start-up BuildPan had raised an undisclosed seed round from HNIs. According to the sources, BuildPan had raised $200,000 from seed invested, and its founders have invested around $100,000 in it.
Even the people involved in this investment as well have shown faith in BuildPan as the founders succeeded in convincing the investors about the ability to bring ease in the process of building, testing and deploying apps.
According to SaaSBOOMi, the anticipated growth of India’s SaaS industry by 2025 is $10 billion in revenue which was only $1.5 billion in 2019, and its share in the global market will increase to 8% from 2.6 % in the current scenario. After all, these investment updates are evidence of this drastic elevation of the SaaS industry.
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What is Buildpan?
Buildpan is a rapid app development & testing platform which helps business to build quality apps.
When was Buildpan founded?
Buildpan Cloud Private Limited was founded in 2019 by Sonal Dandotia, VIrendra Chouhan, Shantanu & Vaibhav Tiwari.
How many employees Buildpan have?
Who are investors in Buildpan?
1) SunilKumar Singhvi
What is the address of Buildpan?
Kalyan Sampat Garden, Bicholi Mardana, Indore, Madhya Pradesh 452016