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- Innovapptive
Innovapptive Valuation, Funding & Investors
Innovapptive is valued at $580M as of June 2022.
Last Innovapptive valuation
$580M
Seed · Jun 2022
Last Innovapptive funding round
$26M
Series B · May 2023
Cumulative funding Innovapptive raised
$53M
across 5 funding rounds
Key investors in Innovapptive
Tiger Global
Vista Equity Partners
Hyderabad Angels
About Innovapptive
Innovapptive is a Houston-headquartered provider of mobile workforce solutions for asset-intensive industries. Its platform connects maintenance, operations, and warehousing teams via apps for work orders, inspections, and compliance, deployed at over 100 sites for clients in oil and gas, chemicals, and utilities across North America and Europe.
Founded
2012
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$580M (Jun 2022)
Innovapptive Valuation
Innovapptive is currently valued at $580M, based on its seed round in June 2022.
Innovapptive's valuation has grown 8.9x from $65M at its Series A in April 2019 to $580M in June 2022, across 2 priced rounds.
Innovapptive valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jun 2022 | Seed | $580M |
| Apr 2019 | Series A | $65M |
Innovapptive Funding History
Innovapptive has raised a total of $53M across 5 funding rounds.
Innovapptive's first fundraising round was a $2M seed round in April 2017. The most recent completed round was a $26M Series B in May 2023.
Innovapptive funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2023 | Series B | Vista Equity Partners (lead); Tiger Global | $26M | - | Innovapptive announced a Series B financing led by Vista Equity Partners on May 4, 2023, with existing investor Tiger Global Management also participating. The company subsequently disclosed that the round raised USD 26 million, bringing its cumulative funding to USD 52 million. Vista invested through its Endeavor Fund and took a minority position, with senior vice president Ben Benson joining Innovapptive’s board. The funding was intended to accelerate product development and expansion into additional regional markets. Innovapptive supplies a connected worker software platform that links frontline operators, maintenance teams and warehouse staff with enterprise systems and asset information. Its customers operate in energy, mining, metals, utilities, chemicals and industrial manufacturing. Founder and chief executive Sundeep Ravande continued to lead the Houston-based business. The company planned to strengthen integrations, operational insights and recommendations for improving workforce productivity, safety and equipment reliability. |
| Jun 2022 | Seed | - | $4M | $580M | Innovapptive secured $75M in Series C funding, bringing total funding to $140M at a $580M valuation. The investment supports growth in its connected workforce platform for asset-intensive industries, enabling conversational operations where equipment, machines, materials, and drones interact with workers for efficient workflows. This positions Innovapptive as a leader in enterprise software, addressing large addressable markets with strong growth potential and competitive moats. |
| May 2021 | Series A | - | $6M | - | - |
| Apr 2019 | Series A | Tiger Global (lead) | $16M | $65M | Innovapptive is a Houston-based connected workforce platform for asset-intensive industries, enabling equipment, machines, materials, and drones to communicate with workers, suppliers, and executives for unified operations and improved efficiency. The platform supports Industry 5.0 by placing humans at the center of intelligent workflows, helping customers grow revenues and profitability. On April 16, 2019, Innovapptive raised $16.3 million in a Series A round led by Tiger Global Management. The funding brings the company's post-money valuation to more than $65 million and will support global expansion and further development of its conversational operations platform. Tiger Global partner Scott Shleifer highlighted Innovapptive's leadership in boosting employee and asset productivity for industrial companies. |
| Apr 2017 | Seed | Hyderabad Angels (lead) | $2M | - | - |
Who has invested in Innovapptive?
3 investors have backed Innovapptive across its funding rounds, including Tiger Global, Vista Equity Partners and Hyderabad Angels.
Lead investors include Vista Equity Partners, Tiger Global and Hyderabad Angels.
Innovapptive Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Apr 2019 | ||
This data is available for Pro users. Sign up to see all 3 Innovapptive investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialInnovapptive Competitors
Innovapptive competitors include listed companies like Chrysos Corp. and ZUKEN, and private ones like proteanTecs, Apprentice.io, Seeq and Autosys Industrial Solutions Private Limited.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $62M | $19M | $584M | 9.0x | ||
| Private | $60M | - | $600M | 10.0x | ||
| Private | $25M | - | $622M | 24.9x | ||
| Private | - | - | $535M | - | ||
| Private | - | - | $651M | - | ||
| Publicly listed | $273M | $50M | $734M | 1.9x |
Innovapptive Public Comps
Innovapptive is still privately-owned, but its public comps include Chrysos Corp., Shenzhen Sunwin, Hansen Technologies, Jiangxi Tianli Technology, Shenzhen Tianyuan Dic, ZUKEN, Zhengzhou Jiean Hi-tech, Hebei Gongda Keya Technology Group, AsiaInfo and PSI Software.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $62M | $19M | 9.9x | 9.0x | 32.2x | 27.8x | |||
| $20M | ($148M) | 32.6x | - | (4.3x) | - | |||
| $272M | $52M | 2.0x | 1.9x | 10.3x | 6.7x | |||
| $73M | $69K | 6.0x | - | 6413.5x | - | |||
| $1.4B | $43M | 0.7x | - | 24.3x | - | |||
| $273M | $50M | 1.9x | 1.9x | 10.1x | - | |||
| $54M | $9M | 7.0x | 6.5x | 41.6x | - | |||
| $70M | $9M | 5.1x | - | 41.0x | - | |||
This data is available for Pro users. Sign up to see all Innovapptive competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Innovapptive
| When was Innovapptive founded? | Innovapptive was founded in 2012. |
| Where is Innovapptive headquartered? | Innovapptive is headquartered in Houston, TX, United States. |
| Is Innovapptive publicly listed? | No, Innovapptive is a private, VC-backed company. |
| What is Innovapptive's valuation? | Innovapptive was last valued at $580M in its seed round in June 2022. |
| How much funding has Innovapptive raised? | Innovapptive has raised $53M across 5 funding rounds. |
| What was Innovapptive's last funding round? | Innovapptive's last funding round was a $26M Series B in May 2023, led by Vista Equity Partners. |
| Who are Innovapptive's investors? | Innovapptive's investors include Tiger Global, Vista Equity Partners and Hyderabad Angels. |
| Which companies are comparable to Innovapptive? | Companies comparable to Innovapptive include Chrysos Corp., proteanTecs, Apprentice.io, Seeq, Autosys Industrial Solutions Private Limited and ZUKEN. |
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