Accel is one of the fastest-growing investment companies based in California. Accel announced a new $650 million fund to back Indian startups to fulfill its commitment towards the seventh fund to invest across India and Southeast Asia in search of new opportunities and customers.
With the latest funding raised by Accel, the total valuation of the company has been raised to over $2 billion. The company’s fund will be used to develop more and more facilities in the field of E-Commerce, as well as SaaS consumer fitness, B2B marketplaces, digital health, and web 3.
Accel was founded in 1983 by Jim Swartz and Arthur Patterson and has its headquarters in California, United States. The company was formed as a small start-up, providing its services to a few customers, but at present, the company’s value is more than $3 billion.
The company works toward the aim of adding more and more value through partnerships with excellent and efficient entrepreneurs and management teams so that the company can provide the best platform and achieve more and more success.
Accel is an efficient funding company that has previously funded numerous world-famous companies such as Facebook, Flipkart, Spotify, Box Media, Jet.com, Vectra Networks, Etsy, and many more. Apart from this, the major markets of the company include London, India, and parts of China.
A partner at Accel, Sekhar Kirani, says that Accel is one of the finest institutions ever to provide funding or invest in startups. He also claims that the development of payment infrastructure such as UPI and the taxation system GST aids Indian startups in their growth and development.
Before these facilities, there was a development in the Indian economy, but that was too slow compared to now. The development of startups in India helps Accel to grow and explore more and more opportunities in the Indian market.
Previously, in 2008, the company accel raised $480 million in funding, which it used to explore more and more opportunities in the fields of technology, digital media, mobile networking, and software services as per venturesinghtechcrunch.
Following that, in March 2016, the company raised $500 million, bringing its total valuation to $2 billion. In addition to this, in April 2016, the company raised an additional amount of $500 million for investment from Europe and Israel.
Moreover, in 2016, it closed a funding round of $450 million as an investment, which is used by the company to expand its platform and provide more new services to its customers.
In May 2019, the company raised an investment of up to $575 million in series A from European and Israeli startups, and last but not least, the UN funding amount raised by the company at present amounts to $650 million.
Accel, at present, is one of the greatest developing companies in the field of artificial intelligence and tech-based companies and was founded in 1983 by Jim Swartz and Arthur Patterson. With its hard work and well-established goodwill, the company raised an investment of $650 million at a valuation of $2 billion.
The company is working hard to compete with its competitors and forming new collaborations with many peer US investing companies, including Sequoia Capital India and Lightspeed Venture Partners.