Mithi Software, a SaaS startup that provides assurance software, has raised $500,000 in a funding round led by the revenue-based financing platform Recur Club.
The startup plans to use the raised capital to improve its product offerings, optimize cash flows, and drive marketing initiatives to further expand its business.
Founded by Tarun Malaviya, Sunil Uttam, Aditi Malaviya, and Ashok Malaviya, Mithi said it provides enterprise information archival data assurance software designed for businesses, offering modern SaaS tools for the protection, visibility, and agility of critical business data.
“Financial costs of raising capital through Recur Club are offset -were set off by the savings that we made through paying our expenses upfront with Recur Club Financing,” said Malavia, founder and chief executive officer, Mithi Software.
The startup said it aims to build stronger relationships with customers through continuous improvements and explore opportunities for future VC raise.