Bengaluru-based RuleZero, a private equity management platform, has completed the raise of its seed round of $2.5 million. The extended round saw participation from US fintech fund The Treasury, employees of Valiant Capital, domestic early-stage funds – YourNest Venture Capital, Blume Founders Fund, and a few angel investors.
Founded in 2019 by Satish Mugulavalli and Srinivas Katta, Rulezero offers equity management software to private invested companies, investors, investment bankers, lawyers and company secretaries. Its flagship product, Hissa, manages ownership data of the company, automates share issuance processes and helps in employee benefit plan (ESOP) creation.
The platform also equips management with mechanisms to track and certify cap tables and manage transactions. Ownership data of a company on the platform includes security instruments such as equity and equity-linked securities and debentures.
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Srinivas Katta, one of the Founders of RuleZero said, “We are onboarding early-stage startups and unicorns at a rapid pace and are pleased to welcome the new investors to the company. Indian companies have raised over $20B in the first eight months of 2021 with 24 startups reaching unicorns status. This is a historical high for startup investments in India. We are well-positioned to ride this growth wave with the help of our investors.”
The current pace of fundraising requires a digital platform to manage ownership and ownership data, build and review deal documents and manage transactions. RuleZero is also partnering with other participants in the ecosystem to ensure that financing is efficient, compliant, quick, and cost-effective. The fresh funds will be used to expand the team, enhance the product offering and scale customer deployments.
“The Indian private market for startups and SMEs is continuously growing, offering RuleZero a large market to serve. RuleZero, with its Hissa platform, will help organize and facilitate the growth of this ecosystem: a sign of a maturing ecosystem is greater transparency, which Hissa will certainly help provide. This will pave the path to create an ‘Exchange’ for private companies in India, thereby bringing in liquidity,” added Sunil Goyal, Managing Director of YourNest Venture Capital.
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