Singapore-based SaaS start-up raises $2.1M from Extream Ventures, Stream Global

Two-year old Sambaash Pvt Ltd, which has two Indians among its founders, has raised VC funding worth $2.1 million (Rs 11.6 crore) from Singapore-based VC funds Extream Ventures and Stream Global. Sambaash Pvt Ltd runs Sambaash, a SaaS-based service that builds and enables online communities for businesses and organizations by leveraging social media.

Sambaash was founded by Aravinth Kumarasamy, Giridhar Nayak, Jane Chong, Madgu Sudan Rao Thota and Joseph George. It offers different services like professional communities, enterprise communities (ala Salesforce Chatter) and also gives managed services and consultation. Majority of the team of founders earlier worked at SunGard System Access, Singapore.

Online customised communities for office staff is a very well-known phenomenon in the West. In India, it is in a nascent stage with tools such as Salesforce Chatter, which enables an organisation to create a social community with profiles, pictures, status update sharing among the employees. Jive, a US-based company, is a popular name in the industry.

A major part of the funding raised will be used for market expansion and business development activities in Asia Pacific and Europe. Currently, the company has clients in travel, fashion, healthcare, education and research. Some of its customers are Jeevanthi Hospitals, The Apollo Clinic, World Fashion Community and Six Degrees.