HostBooks Secures $5 Million in Series B Funding from Orange Orbit
- ByStartupStory | December 23, 2024
Enterprise SaaS fintech firm, HostBooks, has successfully raised $5 million in funding from Orange Orbit, as part of its ongoing $15 million Series B funding round. According to the company’s statement, the first tranche of $2.5 million has already been disbursed.
This investment marks a significant milestone for HostBooks as it looks to expand its operations and strengthen its offerings in the global business automation and AI transformation space.
Speaking about the partnership, Umang Nahata and Rakesh Raman, Managing Partners at Orange Orbit, said: “We align with HostBooks’ vision and share its fervor for serving and delighting global customers on their journey of business automation and AI transformation. We possess extensive market knowledge and have successfully built and scaled businesses in a similar segment. Combining our deep market expertise with HostBooks’ comprehensive and robust business automation platform, we are confident that HostBooks is strategically positioned for global success.”
The newly infused capital will enable HostBooks to expand its global footprint, invest in product development, adopt advanced AI-driven modules, and strengthen its sales, marketing, and operations teams.
Founded in 2009 by Biswajit Mishra and Kapil Rana, HostBooks has made a name for itself by offering cloud-based solutions that assist businesses in managing compliance, accounting, finance, and operational challenges.
The company previously raised $3 million in a Series A funding round led by fintech giant Razorpay in 2022.
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