Servify Raises $23 Million in Series C, Led by Iron Pillar
23.9.2020 10:45:00 EEST | Business Wire | Press release
Servify , the device lifecycle management platform that integrates multiple OEM Brands and their sales and service ecosystem to deliver great after-sales service experience today announced that they have raised $23M in Series C financing. This round was led by its existing investor Iron Pillar, an India focused venture growth investor from its recently concluded Top Up Fund.
In addition to all the existing investors such as Blume, Beenext and Tetrao SPF, this funding round also saw participation from funds managed by Global Alternatives Investor 57 Stars, multiple strategic investors like Sparkle Fund (an investment arm of DMI Finance), SF Roofdeck Capital LLC (Investment arm of Silicon Valley Investment Bank FT Partners), Go Ventures (investment arm of Go PLC, a Maltese integrated telecommunications company) and Madhu Kela Family Office. Servify’s existing Venture Debt provider Trifecta Capital also participated in the round.
Sreevathsa Prabhakar, Founder, Servify said, “It is very satisfying as we have more than quadrupled our revenue in 2020 till date, and raised funds for expansion even during the tough economic climate. This further strengthens our belief that we have built a globally scalable sound business that is not only trusted by large brands, but also the investor community.”
Servify runs Device Protection programs for Apple, Samsung, OnePlus, Xiaomi, Nokia, Motorola, Airtel etc. and also runs device exchange/buyback programs for Apple, Samsung and OnePlus across their authorised sales channels. Servify is headquartered in Mumbai, India and has subsidiaries in 8 countries. Servify aims to utilise the funding to scale up its global operations and further enhance its technology platform.
Anand Prasanna, Managing Partner at Iron Pillar, added “Servify is a unique business built from India for global markets with no pure comparable companies anywhere. Their software is also solving a hard problem of after sales service experience for marquee brands with very high standards. We are keenly interested in unique businesses addressing hard problems in very large and global markets and are excited to continue to back the company in its next phase of growth. Stellar execution by Servify’s team combined with its differentiated technology platform have led to the company’s impressive growth this year despite Covid-19 related challenges.”
About Servify:
Servify, the device lifecycle management platform, integrates multiple OEM Brands and their sales and service ecosystem to deliver great after-sales service experience. Started in 2015, India Headquartered Servify has spread its reach in 50+ countries across the globe. Partnering with 50+ brands including top mobile device brands, retailers, distributors, insurers, service providers, and carriers. The platform today supports 3mn+ monthly transactions. In just 5 years of its operation, it already has over 43,000+ retail locations connected and 16,000+ service partners integrated, among others.
Additional information on Servify is available at www.servify.tech
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200923005024/en/
Contact information
Debapriya Ghosh Biswas
debapriya.g@servify.in
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Azalea Vision Enrolls First Patient in Proof-of-Concept Study Evaluating Novel Optical Aperture for Keratoconus and Presbyopia28.9.2026 17:27:00 EEST | Press release
Azalea Vision, a Belgian healthtech company building the first medical-grade smart contact lens, today announced that it has enrolled the first patient in its NOA proof-of-concept study. The study marks the start of Azalea’s clinical program, following its selection for the European Innovation Council (EIC) Accelerator. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260928982998/en/ Novel Optical Aperture smart lens The study is conducted at Visser Contact Lenses (Netherlands) and the University Hospital Antwerp (UZA, Belgium). It evaluates a contact lens with a precisely positioned aperture, the optical principle at the core of Azalea’s adaptive smart lens, to reduce higher-order aberrations in keratoconus and to improve near vision in presbyopia. “For people living with keratoconus and presbyopia, better optical solutions can make a real difference in everyday life. We are proud to take part in this first clinical step and
CORRECTING and REPLACING SES Launches Cash Tender Offer28.9.2026 16:42:00 EEST | Press release
Please replace the release with the following corrected version due to multiple revisions to dates. The updated release reads: CORRECTING and REPLACINGSES Launches Cash Tender Offer THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN, OR AT ANY ADDRESS IN, THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OF AMERICA OR THE DISTRICT OF COLUMBIA (THE UNITED STATES) OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE SECURITIES ACT)) OR IN OR INTO ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMEN
Incognito Software Systems Launches NEXA, an AI-Enabled Solution for Automated Broadband Operations28.9.2026 16:00:00 EEST | Press release
Incognito Software Systems, a leading global provider of service orchestration, device management, and network intelligence solutions, today introduced NEXA, an AI-driven network intelligence and automation platform that enables broadband service providers to turn operational data into action. NEXA unifies network, device, service, and subscriber data in a single intelligence layer, delivering real-time and predictive insights that help service providers identify issues sooner, better understand the subscriber experience, and take faster, more informed action across their operations. As service providers seek to differentiate beyond connectivity, subscriber experience has become a critical competitive advantage. However, networks have evolved into complex service platforms that span access, edge, customer premises, apps, and third-party systems, making it difficult to detect and resolve issues quickly. NEXA addresses this challenge by combining cross-platform observability with AI-enab
Volante Technologies and Circle advance stablecoin payment and settlement capabilities for financial institutions28.9.2026 16:00:00 EEST | Press release
Volante Technologies, the global leader in Payments as a Service (PaaS), today announced a strategic collaboration with Circle Internet Group, Inc. (NYSE: CRCL) (“Circle”), a leading internet financial platform company and the issuer of USDC1 through its regulated entities, to help financial institutions integrate stablecoin payment and settlement capabilities into their existing payment operations. Through the collaboration, Volante is bringing USDC workflows into its AI-powered Payments Platform, enabling financial institutions to evaluate how stablecoin activity can operate alongside existing payment rails, operational controls, and on- and off-ramp requirements - without requiring a separate digital asset stack. Volante clients, which include four of the top five global corporate banks and seven of the top 10 U.S. banks, will be able to evaluate key workflows, including minting, redemption, beneficiary wallet registration, funding, notifications, and wallet-to-wallet payment execut
Xsolla Releases The Xsolla Report: Mobile D2C Edition28.9.2026 16:00:00 EEST | Press release
Xsolla, a global commerce company, today released The Xsolla Report: Mobile D2C Edition, a new study examining how direct-to-consumer commerce is performing across mobile games. Drawing on data from more than 800 live Xsolla Web Shops alongside public market and regulatory data, the report shows that D2C has moved past the question of whether it works and into a new phase: studios seeing the strongest results are the ones treating their Web Shop as an operating discipline rather than a one-time build. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260928312597/en/ Graphic: Xsolla Three themes run through the report. First, the gap between a typical Web Shop and a top-performing one is wide, and closing it has little to do with studio size, as indie teams achieve top-tier results comparable to enterprise publishers. Second, more features don’t mean more revenue. A small number of continuously tuned mechanics, particularly loy
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom