Singapore-based business management platform Deskera has raised more than $60m in a series A round backed by quantitative trading and technology firm Susquehanna International Group, Tech in Asia reported today.
Cisco Investments, the corporate venturing arm of networking equipment manufacturer Cisco, participated in the round that was led by venture capital firm Jungle Ventures and also featured Tembusu Partners and Innoven Capital.
Founded in 2008, Deskera operates a cloud-based platform for small and medium-sized enterprises to track their finances and accounts, manage customers and recruit and manage staff.
The company has also released a tool called Desk, a business-to-business commerce platform that will enable SMEs to manage vendors, logistics, payments and customs through a unified interface.
The series A funding will go towards research and development into better integrating the system into Singapore’s national trade information management tool, Networked Trade Platform.
The money will also support international expansion efforts, with a key focus on the US, Australia, Indonesia and the Philippines.
Deskera previously obtained $20m in convertible debt from telecoms and internet conglomerate SoftBank as well as Aris Prime, Partners Asset Management, Tembusu Partners, and Tikehau Capital.
The company had secured $16m in pre-IPO funding in early 2016 but later postponed its plans for a public listing.
