Sulekha.com, India’s leading digital platform for local services, recently announced that GIC, the sovereign wealth fund of Singapore, and Norwest Venture Partners, a top-tier global investment firm, have invested $28 million in the company. Sulekha.com will use the capital to further expand its platform in India, the United States and Canada (where it receives 500,000 unique visitors per month).
Satya Prabhakar, Founder and CEO of Sulekha.com, said, “Sulekha was founded in Austin as a tiny website serving Indians in US and this investment by GIC and Norwest is a powerful endorsement of the vast potential of the local services opportunity and Sulekha’s ability to prosecute it successfully both within and outside of India.”
Sulekha continues to expand aggressively both in US- Canada and seeks to be the dominant destination for local services. Soon it will launch a marketing campaign both in US and Canada to consolidate its leadership position here.
“Sulekha has cultivated deep expertise and built a sophisticated platform in 800+ local service categories including home/office services, coaching/training, health/lifestyle and property/rentals. Sulekha’s large base of user and businesses, unique IP, vast operational footprint, plus rapid migration to mobile are transforming the local services market,” explained a proud Prabhakar.
Promod Haque, Senior Managing Partner of Norwest Venture Partners, said, “Sulekha is seizing an enormous opportunity in transforming how businesses find local customers and grow and we look forward to significant scale ahead.”