SaaS startup Hiver raises $4 million in debt from Mars Growth Capital

• The startup will use the funding for strengthening sales and marketing efforts to grow its customer base.
• In October 2018, Hiver had raised $4 million from Kae Capital and Kalaari Capital.
• To date, Hiver had raised over $8 million in funding.

San Jose and Bengaluru-based software-as-a-service (SaaS) startup Hiver, on Friday, announced it has raised $4 million (about Rs 29 crore) in a debt funding round led by Singapore-based technology fund Mars Growth Capital.

The startup will use the funding for strengthening sales and marketing efforts to grow its customer base. It also aims to double its business revenue in 2021 and 2022, said the statement.

Before this round, Hiver had raised $4 million in October 2018 in its series A funding round co-led by Kae Capital and Kalaari Capital. To date, the startup has raised over $8 million in funding from investors including Mars Growth Capital, Kalaari Capital, Citrix Startup Accelerator, The Morpheus, Kae Capital, and Vijay Shekhar Sharma (Paytm Co-founder).

Founded in July 2011 by IIT Alumnus Niraj Ranjan Rout and Nitesh Nandy, Hiver helps teams to easily manage, access, assign, and track emails coming in shared email accounts right from Google Workspace.

Hiver claims that more than 1500 companies using their products & services including Harvard University, Upwork, Vacasa, Samsara, Pluralsight, Flexport, Canva, among others.

“Last year, we shifted our focus from the shared inbox market to the highly-competitive customer service helpdesk market, and we have seen an overwhelmingly positive response. We see a huge business opportunity with Hiver, in simplifying customer service for businesses by bringing it back to Gmail.," said Niraj Ranjan, Co-founder & CEO of Hiver.

The startup competes with Zendesk, Zoho Desk, Fresh Desk, Help Scout, Front, Helpdesk, among several others.

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