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

Innovapptive Overview

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

United StatesHouston, TX

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

Innovapptive valuation by funding round
DateStageValuation
Jun 2022Seed$580M
Apr 2019Series 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

Innovapptive funding rounds
DateStageInvestorsRaisedValuationDeal Summary
May 2023Series BVista 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 2022Seed-$4M$580MInnovapptive 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 2021Series A-$6M--
Apr 2019Series ATiger Global (lead)$16M$65MInnovapptive 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 2017SeedHyderabad 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

Investors in Innovapptive by funding rounds participated
InvestorHQRoundsRoleFirst check
Tiger GlobalUnited StatesNew York City, NY2LeadApr 2019

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Innovapptive 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.

Public and private companies comparable to Innovapptive
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Chrysos Corp.AustraliaAustraliaPublicly listed$62M$19M$584M9.0x
proteanTecsIsraelHaifaPrivate$60M-$600M10.0x
Apprentice.ioUnited StatesJersey City, NJPrivate$25M-$622M24.9x
SeeqUnited StatesSeattle, WAPrivate--$535M-
Autosys Industrial Solutions Private LimitedIndiaMumbaiPrivate--$651M-
ZUKENJapanJapanPublicly listed$273M$50M$734M1.9x
Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Chrysos Corp.$62M$19M9.9x9.0x32.2x27.8x
Shenzhen Sunwin$20M($148M)32.6x-(4.3x)-
Hansen Technologies$272M$52M2.0x1.9x10.3x6.7x
Jiangxi Tianli Technology$73M$69K6.0x-6413.5x-
Shenzhen Tianyuan Dic$1.4B$43M0.7x-24.3x-
ZUKEN$273M$50M1.9x1.9x10.1x-
Zhengzhou Jiean Hi-tech$54M$9M7.0x6.5x41.6x-
Hebei Gongda Keya Technology Group$70M$9M5.1x-41.0x-

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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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