Pune-based VC firm Windrose Capital has led an undisclosed seed investment round in Precily Inc. The Palo Alto and New Delhi-based deeptech enterprise SaaS startup intends to utilise the funds for product development and in refining its current data science research to deliver more accurate results.
Precily was founded in 2018 by Bharath Rao. It offers an artificial intelligence-based SaaS solution and it is coupled with NLP to large consulting and knowledge services businesses. Currently their clientele includes the Big 4 consulting firms, law firms, and Fortune 500 companies. It is worth noting that their technology claims to have resulted in a 305 percent ROI for the customers.
Precily provides the core AI SaaS solution. But it also provides a comprehensive workflow management layer that gives control, transparency, and insights to their clients’ workflows.
To develop a stronger product positioning for the Indian and US markets, Precily is also experimenting with its GTM strategy. The company claims it is currently focussed on the automation of the legal and taxation business functions for its clients. This will enable its clients to reduce human involvement in undifferentiated business activities and will also increase efficiency by up to 400 percent.
Rohit Goyal, the Managing Partner at Windrose Capital has been associated with Precily for a while now. According to him, “It is still astonishing to see Bharath, who leads the firm with a great set of values, maturity, and transparency, which is a rare find at such a young age. We believe we found ourselves a great partner in the Precily team.”
Rohit also said that Precily is one of the few companies in India which is pushing the boundaries of innovation in research and practical applications of it.