Online B2B platform Indiamart invests Rs 17 cr in SaaS firm Zimyo

Online B2B platform Indiamart on Thursday said it has invested about Rs 17 crore in software-as-a-service (SaaS) firm Zimyo Consulting Private Limited.

Indiamart founder and CEO Dinesh Agarwal said COVID-19 has accelerated the adoption of SaaS-based HR management solutions by new age as well as traditional businesses.

"Apart from their core Payroll and attendance management modules, we also feel that there is immense potential in Zimyo's vision of providing comprehensive HR management modules and other benefits to employees as well as employers.

"This investment is another step towards Indiamart's long term vision of providing a holistic ecosystem for all business needs," Agarwal said.