Investment validates company’s rise as a formidable player in $780 billion global B2B eCommerce space
WAYNE, Pa. & BANGALORE, India, Sept. 16, 2015 /Globe Newswire/ – Unilog, a technology company specializing in eCommerce software and enriched product catalogs for the B2B enterprise, has secured funding from venture capital firm Kalaari Capital. The funding will accelerate the company’s product development efforts and geographical expansion into new global markets.
The investment validates Unilog’s rise as a formidable player in B2B eCommerce, which Frost & Sullivan predicts will become a $6.7 trillion industry by 2020. Its flagship product, CIMM2, is the first fully integrated eCommerce platform that specifically addresses the complex requirements of B2B environments.
“B2B eCommerce is a vastly underserved market, with all the major software companies heavily focused on B2C/retail,” said Suchit Bachalli, Unilog’s President – North America. “CIMM2 has disrupted the eCommerce ecosystem by creating a single platform solely for the B2B market. CIMM2 is helping customers grow their businesses and defend their positions against the giant online marketplaces, like AmazonBusiness. We’re taking apart the older framework model of big software and replacing it with a cleaner and simpler, yet extremely robust eCommerce platform.”
Traditionally known for its product content services, Unilog started building enterprise-grade software products a couple of years ago, and in the last 18 months, has grown to over 100 customers of its B2B eCommerce platform. In this process, Unilog has also created a vibrant user group community, well-established partner network and highly scalable support organization. CIMM2 customers are typically mid-size enterprises with annual revenues in the $300 million to $800 million range.
Kumar Shiralagi, MD at Kalaari Capital said, “Unilog’s wealth of product content and B2B expertise, engineering talent and successful track record of building enterprise grade software products interested us. Customer satisfaction is extremely high, and for a product as complex and complete as CIMM2, it speaks volumes of its future potential. We believe that the funding will enable it to grow very rapidly to the next level both in India and abroad.”
Unilog is a global technology and services company specializing in eCommerce solutions and enriched product catalogs for the B2B marketplace. With United States headquarters in the Philadelphia suburb of Wayne, Pa., and international headquarters in Bangalore, India, Unilog is an ISO 9001:2008- and ISO 8000- certified company that employs more than 500 people. For more information, visit www.unilogcorp.com.
About Kalaari Capital
Kalaari Capital Advisors, is an India focused venture capital fund investing in technology companies. The Kalaari team brings decades of experience as entrepreneurs, investors and executives to add value to emerging companies. Team members at Kalaari Capital have advised investments in more than 35 companies since 2006. For more information, visit www.kalaari.com.