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Jul 29, 2020
Profoundis, a startup based in Kerala, has been acquired by US-based FullContact in a first of its kind deal. While the financial details related to the deal has not been disclosed, a report from FactorDaily suggests the deal size to be in “single digit millions”. This deal marks the first acquisition of a Kochi-based startup. Kris Gopalakrishnan, former Infosys chairman, and advisor of Profoundis, has said that this is the biggest headline-grabbing acquisition from Kerala. ADVERTISEMENT FullContact is now planning to turn Profoundis as its subsidiary and will add around 1000 new employees in the coming years. The company’s team of around 70 people will continue to work for the company, including the founders. Arjun Pillai, co-founder and CEO, will now be FullContact’s Head of Data Strategy. Commenting about this acquisition, Bart Lorang, co-founder and CEO of FullContact, said, “As a strategic partner, Profoundis has been instrumental to adding value and increasing the effectiveness of our data solutions for our clients. Together we can further accelerate the growth of FullContact as we continue to build the most powerful fully-connected contact management platform for professionals and businesses.” Profoundis was founded in 2012 by Arjun Pillai, Jofin Joseph, Anoop Thomas and Nithin Sam Oommen. It had raised an undisclosed amount of funding from high net-worth individuals in mid-2015. It was also a part of Microsoft Accelerator Programme and the ‘Start-Up Chile’ programme initiated by Chilean government in 2013. The company had launched three products earlier. After failure of those three products, Profoundis came up with its fourth product — Vibe, which collects contact information of people across internet. Currently, Vibe has more than 100,000 users and 200 companies across 120 countries. Profoundis has been associated with FullContact since last year. The company was in potential acquisition talks since February this year. FullContact is a fully-connected contact management platform for professionals and enterprises. Its cross-platform suite of apps and APIs enhance contacts with 360-degree insights and spans across iOS, Mac, Android, Gmail, and Web platforms. It recently raised $25 mn from Foundry Group, Baird Capital, Shea Ventures and Blue Ventures. The total amount raised by the Denver-based company stands close to $44 million. Share this:
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