CIOInsider India Magazine
Uniqus to Raise $ 20 Million in Series C Round
US-incorporated professional services firm Uniqus is in advanced talks to raise $20 million (about ₹172 crore) in its Series C round, with strong interest from global investors such as Bessemer, Accel, Lightspeed, Peak XV, WestBridge and Norwest, as well as continued backing from existing investors, according to reports.
The fast-growing company is aiming for a valuation between $200-250 million in its Series C round, with current investors Nexus Venture Partners and Sorin Investments expected to join in.
The company completed a Series B funding round in March 2024 with a valuation of $100 million.
In 2022, the firm was established by former KPMG audit leader Jamil Khatri and former EY Financial Accounting Advisory Services head Sandip Khetan, making it the first professional services company from India to secure funding from private equity firms.
The company, which specializes in environmental, social, and governance (ESG) accounting and consulting services, is taking advantage of a wider global movement.
Recently, private equity firms have invested in professional services companies globally, such as Grant Thornton UK with Cinven, Baker Tilly US with Hellman & Friedman and Valeas Capital Partners, and Citrin Cooperman with Blackstone.
A fund that reviewed the company's presentation deck reported that Uniqus intends to utilize the funds for expansion into new market
A fund that reviewed the company's presentation deck reported that Uniqus intends to utilize the funds for expansion into new markets including Canada, Kuwait, Oman, and Singapore, and to build a robust artificial intelligence (AI) strategy.
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In 2022, the company secured $13 million during its Series A funding round, with Nexus and Sorin as the initial investors, leading to a post-money valuation of $50 million. In the initial round, the company experienced a 25 percent dilution.
