MoveinSync, the Indian startup revolutionizing workplace commutes for major corporations, has embarked on a significant journey with the launch of a growth round aiming to secure a substantial investment of approximately $50–$60 million. In the intricate world of startups, this funding round is anticipated to include a partial exit strategy for some early backers, an insider revealed, adding an element of strategic evolution for the company. A noteworthy participant in these discussions is reputed investor Bessemer Venture Partners.

Founded in 2009 by Deepesh Agarwal and Akash Maheshwari, MoveinSync has carved a niche in the market with its specialized mobility solutions tailored for the employee commute landscape within large enterprises. At the core of its offerings lies MoveinSync Ion, a cutting-edge SaaS platform designed to automate employee transportation management. The startup’s portfolio also features MoveinSync One, an end-to-end employee commute solution that seamlessly integrates various modes of transport such as cabs, shuttles, and buses. Additionally, MoveinSync provides a sophisticated parking management solution, empowering facility managers to efficiently allocate parking spaces that employees can conveniently book on the go.

In a landscape where growth-stage startups have faced challenges in attracting investments, MoveinSync stands out by actively pursuing this funding initiative. Sources familiar with the matter, who chose to remain anonymous, shared insights indicating the inclusion of a provision for partial exit for certain early investors. While MoveinSync refrained from providing official comments on the ongoing discussions, it is evident that the startup is steadfast in its pursuit of ambitious goals, including positioning itself as IPO-ready within the next 2–3 years.

According to details gleaned from an investor presentation reviewed by TechCrunch, MoveinSync has achieved notable milestones, boasting over 450,000 monthly active users undertaking 2.5 million monthly trips. The company’s financial health is reflected in its average revenue rate of $47 million, showcasing an impressive 2.2X year-on-year growth trajectory.

MoveinSync’s operational footprint extends across 24 cities in India, showcasing its dominance in the domestic market, and the company has also made strategic forays into international markets, including the Philippines, South Africa, and Sri Lanka. With an impressive clientele that reads like a who’s who of major corporations—featuring Adobe, Amazon, Facebook, Google, Microsoft, Salesforce, McKinsey and Company, PwC, KPMG, Goldman Sachs, JP Morgan, and Wells Fargo—MoveinSync has positioned itself as a key player in the employee commute solutions sector.

The startup had previously secured $8 million in a Series B funding round led by Nexus Venture Partners in April 2018. Noteworthy investments have poured in from key players in the venture capital arena, including Inventus Capital Partners, Saama Capital, Qualcomm Ventures, and Athera Venture Partners. Now, with this latest funding round, MoveinSync is poised to not only fortify its current standing but also accelerate its trajectory toward becoming a force to be reckoned with in the mobility solutions landscape. As it navigates the complexities of fundraising and strategic exits, MoveinSync exemplifies the dynamic nature of startups and their relentless pursuit of innovation and growth.

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