23 May 2017

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Indian Angel Network invests in Peel-Works

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Indian Angel Network, the first and now Asia's largest Angel network comprising successful Indian entrepreneurs and dynamic CEOs with a passion for early stage businesses, has announced an Angel Investment of Rs. 3.25 crore in Peel-Works, a cloud enabled Sales Force Transformation and BPO Company based out of Mumbai.

Set up by a team of management graduates with extensive experience in the FMCG sector in the Human Resources and Sales Management, Peel-Works  offers customized as well as productized solutions for very large to medium size companies inFMCG, telecom and insurance sector that conduct their business using indirect sales force.

The investment will be utilized in expanding product offering, creating technology differentiators and human capital. Productized sales force consulting and transformation solution is planned to be hosted on the cloud and will be charged on pay per use basis.

Mr Sadeesh Raghavan, an IAN member and a former top management professional at Accenture, who will be joining the Peel-Works board, commenting on why Indian Angel Network found Peel-Works worthy of investment said, “In Sachin and his team we found exceptional entrepreneurs with a passion and high energy to create a company focused on building the clients' sales force to produce measurable results for its customers. Peel-Works has a well thought through scalable strategy and with a high execution focus.”

On IAN's angel investment round from IAN, Sachin Chhabra, Founder & CEO, Peel-Works said, “We are very excited to have IAN join hands with us to build Peel-Works. In our pre investment discussions, we have already received very high quality strategic inputs and going forward, we see Peel-Works building a hockey stick growth curve with IAN's thought leadership and Networks."

Peel-Works has a sharp focus on a pain point. Even though over four-fifth of the sales in FMCG, Telecom and Insurance come in through the indirect salesforce, the way the companies manage this talent is either completely absent or what exists is not commensurate with the significance of their contribution to business results. This sub optimal management creates a dis-engaged salesforce which, as is widely accepted, leads to sub-optimal business results and higher operating costs.

”It is a privilege to work with IAN members whose real-life industry experience as our mentors will put us on a growth path. The IAN investments will help us accelerate growth, expand our technology and build it out,” Sachin added.

The IAN investors in Peel-Works include active angel investors Harish Mehta, Srikant Sastri, Saurabh Srivastava, amongst many others.

Srikant Sastri, an active investor in early stage companies and Cuntry Chairperson for Vivaki India., who led the investment from IAN and will be joining the Board of Peel-works said, “We are confident that Peel-Works will set new standards in Sales Force transformation by using analytics, especially for the indirect sales team.”

Peel-Works’  technology solution organizes information, computes performance based ratings and incentives and uses analytics to do predictive modeling and generates recommendations around promotability, skill and competency.

The Indian Angel Network has over 180 members and has over 25 investments across multiple sectors like IT, Mobile and Education and has made several successful exits. In 2011 alone, IAN invested nearly US$ 10 million in 10 start ups including Jigsee, Groffr, and Vayavya.

 

 

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