Bangalore based Zapstitch, an ecommerce accounting integration platform, has raised Series A funding worth $2 million from Helion Venture Partners and existing investor Orios Venture Partners, reports ET. The company will use the funds to set up a team in the US to further sales and marketing efforts outside India this year.
It will also use the funding to expand Zapstitch’s offerings in data migration, data quality and data validation for product lines. Alok Goyal from Helion and Rehan Yar Khan from Orios will join Zapstitch’s board post the funding. A year ago, Zapstitch had raised an undisclosed amount of angel funding from Anupam Mittal and a group of other angel investors.
Zapstitch was founded by Satya Padmanabham D in 2013. It offers a cloud based data integration platform for data migration for business apps, focusing on e-commerce and accounting apps. The platform allows seamless integration and migration between cloud apps like SalesForce, Netsuite, Concur and Workday among others.
The company claims that it can set up integrations for businesses in under 10 minutes. Essentially, the platform makes available the same set of data across different platforms which companies use for CRM, accounting, email marketing and HR. Zapstitch comes in to integrate all of these so that all of the business’ data comes under a single umbrella. Zapstitch says that the product offers daily scheduling auto-syncs for QuickBooks Online and Xero, eliminates errors due to manual accounting and generates financial reports in the user’s accounting app.
The company claims to have over 400 clients, out of which 90% are US and Canada based. It currently offers a free 15 day trial along with plans that start at $19, $29, $49 and $89 per month mostly divided by the number of orders a business is doing per month. The plans, the company says, include shipping charges, inventory, payments, discounts, automatic tax handling and unlimited products and variants.