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CRMnext Raises Capital from Norwest Venture Partners, torques Global Reach


CRMnext, a global CRM (Customer relationship Management) product company, today declared a strategic investment from Norwest Venture Partners (NVP). The fresh capital will be used to speed up the company’s global outreach and to be able to pump in investments into its research and innovation portfolio. This move nevertheless arrives as a part of the company’s aim to be counted as one of the top five players in the global CRM space across industries instrumental in changing the dynamics of the global market.

“We are focused on expanding our reach in the global market and this move will accelerate it. Even though we are a very profitable business, this funding will enable us to fuel investments into our research and innovation initiatives. All this will lead to further strengthening of our position as an enterprise class innovator in the CRM space, a space that has seen consolidation resulting in commoditization and has led to lack of real customer focused innovation” said Nishant Singh, CEO, CRMnext on the sidelines of the announcement.

CRMnext runs some of the largest CRM implementations in Asia Pacific, Africa in addition to Middle East regions. In India at the moment, all the top 3 private banks reading in the league as ICICI Bank, AXIS Bank as well as HDFC Bank use CRMnext. It is noteworthy here that, it has to its credit the major banking implementation in Asia at HDFC Bank with 40,000+ users across 3,000+ branches in 1,500+ cities. By way of CRMnext, these organizations have effected global paramount practices entailing customer facing departments, in so doing considerably improving their business performance.

Mohan Kumar, Executive Director, NVP India alleged that, “We are happy and excited to be partnering with CRMnext – India’s leading CRM solution provider in the BFSI space. The company has built a very strong platform – CRMnext – that helps define business strategies by making sense of big data coming from various customer touch points. Traditional CRM systems do not engage customers or make use of analytics. We believe the CRM market is evolving and next generation CRM systems will be multi-channel, more vertically focused and have a heavier emphasis on customer engagement. At NVP we have invested in a variety of verticals including retail, healthcare and education, and with CRMNext, we found a great company doing the same in the BFSI space.”

CRMnext assists manage sales; marketing in addition to customer service across the organization, facilitates seamless sharing of information by means of centralizing all customer data and processes. Other customers takes account of thought leaders across various verticals as for instance Pfizer, Max Life Insurance, TATA AIA, Reliance, CRISIL (S&P Co.), Fullerton Financials, Bajaj, IIFL etc. CRMnext is the only product with a Commutable cloudTM platform, offering a complete private cloud solution. The platform from its barrio brings along flexibility, followed by agility besides automatic upgrades to the complex enterprise environments which officials have nose-dived to function. The company from its end has been conferred with some of the most esteemed accolades as for instance, ‘Most Promising Product Company’ at CIO Review Asia 2014 & ‘Best CRM Technology Provider of Asia 2013’ courtesy; World Finance.

CRMnext which is the leading product of Acidaes Solutions Pvt Ltd. That happens to be a specialist customer relationship management product company, delivering services to clienteles in the global market. In this business deal, Mumbai based boutique investment bank Zanskar Advisors was the exclusive financial advisor to Acidaes Solutions Pvt Ltd.


Jawed Akhtar

A Journalist by interest and a Music Enthusiast by passion. Wedded to Mother Nature, Jawed indulges his aesthetics in travelling and reading books of varied genres. Having covered News stories for top Dailies in his formative years, that is, he is game for tryst with Technology at Techmagnifier.

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