- CimplyFive offers cloud-based compliance and risk management solutions to enterprises
- Investors participated in this round include Mohandas Pai and Suresh Senapaty, former CFOs of Infosys and Wipro, respectively
- Funds will be used for marketing and product development
Bangalore-headquartered CimplyFive Corporate Secretarial Services, a startup that offers cloud-based compliance and risk management solutions to enterprises, has bagged an undisclosed sum in seed funding.
The investors who participated in this round include Mohandas Pai and Suresh Senapaty, former CFOs of home-grown software giants Infosys and Wipro, respectively, besides a few unnamed individuals.
“The capital will mainly go to product development and marketing,” CimplyFive’s Co-founder and Director Shriram Subramanian told e27.
The startup was founded in 2014 by Shankar Jaganathan, Kannan S and Subramanian. It aims to provide risk management solutions that can highlight potential exposures at enterprises and offer them mitigation paths in order to enhance effectiveness and efficiency. Its flagship product, BLISS (Board Leaders Integrated Software Solution), eliminates procedural non-compliance with India’s Companies Act 2013. This cloud-based solution also offers curated resolutions, timely alerts, informative dashboards and free management bandwidth for pursing business goals.
“The Companies Act 2013 is a legislation in its early days. Given its fluidity, cloud-based software is ideal to meet the needs of over one million companies that are active in India. At CimplyFive, we believe that building social capital is good business,” said Jaganathan.
“Enabling good governance is a prerequisite for shareholder value creation. The passion and commitment that I see in Shankar makes me believe that CimplyFive will make rapid progress towards its goal,” said Senapaty.
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