ServiceNow invests $40M in banking software specialist BusinessNext, valuing the 24-year-old Indian company at $700M and taking a roughly 5% stake (Jagmeet Singh/TechCrunch)
ServiceNow is putting a minority check into BusinessNext as it looks deeper into banking-sector workflow software.
The investment is $40 million through ServiceNow Ventures, giving BusinessNext a $700 million valuation and ServiceNow about 5%. BusinessNext is a 24-year-old Indian company focused on software for banks and financial services customers. Techmeme links the TechCrunch report alongside Reuters, Entrackr, VCCircle, the Wall Street Journal, and Fortune India. Techmeme's note
The investment is $40 million through ServiceNow Ventures, giving BusinessNext a $700 million valuation and ServiceNow about 5%. BusinessNext is a 24-year-old Indian company focused on software for banks and financial services customers. Techmeme links the TechCrunch report alongside Reuters, Entrackr, VCCircle, the Wall Street Journal, and Fortune India. Techmeme's note
score 6