India Dealbook: Zoho acquires ePoise Systems; Paytm Money gets $4m from parent 

Photo: Reuters

In the latest M&A deal, cloud company Zoho has acquired ePoise Systems, a hiring automation product startup. Meanwhile, Paytm Money has raised Rs 28.87 crore (about $4 million) in fresh funding from parent One97 Communications.

Zoho acquires ePoise Systems

Zoho, a global software products major, has acquired Bengaluru-based ePoise Systems, a hiring automation product startup for an undisclosed amount, per an announcement.

Founded in 2013 by Sachin Agrawal and Bishan Singh, ePoise automates multiple screening steps for each role, including a set of assessments leading to a video interview, thus bringing significant efficiency to the hiring process for high volume recruiters, Zoho said in a press statement.

“The combination of Zoho’s global footprint and depth of product portfolio and ePoise product capability and talent will add value to our customers. We are open to such technology-focused acquisitions,” Sridhar Vembu, CEO, Zoho said.

Paytm Money gets $4m from parent

Online platform for mutual fund investments Paytm Money has raised Rs 28.87 crore (about $4 million) in fresh funding from parent One97 Communications, according to filings with the registrar of companies (RoC).

It has issued 2.8 crore equity shares at Rs 10 each to the parent as part of the investment.

Paytm Money had received an investment commitment of $10 million from One97 Communications to set up operations at the time of its launch in September. The latest funding could be part of the same commitment.

Paytm Money competes with the likes of Zerodha and ET Money, run by Times Internet Ltd.

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