Startup Funding

Squadcast, a SaaS-based incident management firm, has announced that it has secured $6 million led by silicon valley based DNX Ventures, along with the participation of Wipro of an additional $1.2 million investment.

Some of the existing customers of the firm are BYJU’S, SonyLiv, Udaan, Basic-Fit, Bibam Group, Ninjacart, Carnegie Mellon University, Coinbase, Tanner, Clean Harbors, CyberAgent, Clear Sale, Wabash National, MyTutor, Zerto, SCM Insurance etc.

The company plans to use this funding to increase its productivity, grow its team across all sectors, and further its goal of democratically adopting SRE in organizations of all sizes. This comes as the startup’s revenue and base of customers have grown by over 5X over the past year.

According to a statement, Wipro’s participation further highlights its confidence in the Squadcast platform being able to catalyse change in the ways large organisations today approach reliability.

Founded in 2017, SquadCast was wholly designed as an incident management platform to assist tech teams. Earlier, it had raised about $ 2.1 million from investors, including major venture capital firms Nexus Venture Partners and Chiratae Ventures. The new investment brings a total investment of $ 8.1 million since the launch.

Many organizations end up using quick fixes that often leave them with faulty systems that easily fall off when bugs appear. There are a handful of challenges with the existing solutions such as ease of use, too many false positives, lack of access to centralised information, and expensive legacy incident tools that are generally not aligned with SRE workflows.

In a statement, Amiya Adwitiya, Founder & CEO of SquadCast, said, “Through our platform, we continue to demonstrate to companies how easy it is to adopt Site Reliability Engineering (SRE) practices which, in turn, helps them improve their incident resolution metrics and ultimately, the reliability of their systems.”

“Our mission is to democratise SRE and become the central reliability management tool for organizations of all sizes — be it a hyper-growth startup or a large scale enterprise,” he added.

Online Team AsiaTech
Online Team Asia Tech is a team of Journalists, Entrepreneurs, and Enthusiast Writers who contribute to the platform by bringing everyday stories, updates, opinions and insights from the Asian Startup Ecosystem.

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