Singapore-based business disaster and recovery planning service Perpetuuiti TechnoSoft seeks to raise up to $20m to fund its expansion plans in what will be the company’s second round of funding, the Economic Times has reported.
Intel Capital, the corporate venturing arm of computer chip manufacturer Intel, has so far been the sole investor in Perpetuuiti, investing an undisclosed amount in the its first funding round in 2013 that ET stated was between $6m and $8m.
Perpetuuiti provides disaster management software tools for large and medium-sized companies, enabling their chief executives to make informed business recovery and disaster management decisions.
This is especially important for businesses whose IT systems are imperative to their customer base, including those that heavily rely on e-commerce, social networking and cloud technology.
Perpetuuiti is hoping to use the investment to expand in Europe, Australia and Asia Pacific in addition to expanding its sales and marketing in the US.
Rohil Sharma, chief executive of Perpetuuiti TechoSoft, told ET: “US is a critical market for us, since we have just begun to establish ourselves there. Additionally, we are in advanced stages to launch our new product as well. We will need between $15m and $20m at that point.”