Press Release: Iron Pillar announces an investment in Servify

By Team Servify on Wednesday, August 29th, 2018

Servify is a technology platform built to meaningfully improve service experience across product categories, starting with electronic devices.

Mumbai – Iron Pillar, an India focused venture growth investor, announces its investment in Servify (Service Lee Technologies Pvt Ltd), a Mumbai based company which is currently redefining post purchase ownership experience for customers of global and Indian device brands, retailers, distributors and carriers. Iron Pillar is leading Servify’s $15 million Series B capital raise; existing investors Beenext and Blume Ventures are also participating in this round. This is Iron Pillar’s third investment from its maiden fund.

Servify uses a unique set of software and technology solutions to stitch together an otherwise unorganized after sales experience ecosystem for device brands to deliver a seamless customer experience. Servify has built a nearly profitable business in India, where it has established itself as the market leader. The company has recently launched operations in the U.S. and is setting up operations in Europe, to cater to existing clients who want the same high level of post purchase experience for their international customer base, which Servify provides to them in India. Servify currently works with a number of top device brands, retailers, distributors, insurers, service providers and carriers such as Amazon, AmTrust, Apple, Croma, Godrej, Huawei, Ingram Micro, Motorola/Lenovo, Nokia, OnePlus, OPPO, Panasonic, Redington, Reliance Jio, Reliance Retail, Xiaomi to name a few.

Sreevathsa Prabhakar, Founder and CEO of Servify, said “We are proud to have Iron Pillar in the team, who understood the huge opportunity that we are pursuing, during our very first meeting, like our existing believers Blume and Beenext. Add to that, they are entrepreneurs themselves with operational experience of running own companies or large businesses in the past; incredibly hands-on, deeply practical and just all-round great folks whom you can trust without hesitation. I am very excited, as the global industry connections the Iron Pillar team brings, along with the money, will help us scale significantly.”

Anand Prasanna, Managing Partner at Iron Pillar, added “Servify’s approach of working directly with the entire ecosystem and using an array of software solutions to organize the otherwise highly unorganized post purchase ecosystem is truly unique in the world. We are proud to partner with the visionary management team of Servify who are building a highly innovative technology company from India, backed by very strong execution and growth.”

Servify will use the growth capital from this Series B round for adding depth to senior management and building new technology solutions for its clients.

About Iron Pillar
Iron Pillar is a venture growth investor specializing in mid stage technology companies in India. We provide growth capital to proven businesses in the enterprise and consumer tech sectors, focusing on Series B, C and D capital raises, as lead investors. The 6-member Iron Pillar founding team brings 120 years of combined experience with directly relevant skill sets in venture investing, M&A/IPOs/Exits, operations and technology. Our team is complemented by a renowned panel of advisors from the global technology industry. We leverage our collective experience and networks in India, the U.S., China and Europe to actively partner with entrepreneurs who are poised to scale their technology businesses.

Additional information on Iron Pillar is available at https://ironpillarfund.com.