Newgen Software Receives Investment From SAP Ventures

Newgen Software Technologies, a New Delhi-based software product company, has announced that SAP Ventures, a division of SAP AG, has invested in the company for a minority ownership. Newgen will use the proceeds to fund continued growth, including product development and acceleration of global expansion plans, particularly in new geographies like the USA. The company is targeting expansion of its sales and marketing operations from 30 countries at present to 100 countries in next four years.

Newgen Software provides enterprise solutions for Business Process Management and Content Management for the BFSI, BPO, telecom, manufacturing and government segments.

“An integrated Content Management and Business Process Management platform is vital to successfully automate paper-based workflows and manage the enormous volume of digital content created,” said Ranjan Das, president and CEO, SAP Indian Subcontinent. “In line with our focus, I am delighted that SAP India is able to nurture innovation in the Indian IT Sector through this investment in Newgen by SAP Ventures.”

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“Newgen has managed to establish a global footprint and we look forward to be part of the company’s continued geographic and product expansion,” said Jai Das, who is an investment partner at SAP Ventures and manages its investments in India.

Diwakar Nigam, MD and CEO of Newgen said, “We are pleased that SAP Ventures has chosen to invest in Newgen. We have many installations where we complement SAP in the manufacturing and BFSI segments. There are obvious synergies between the products of SAP and Newgen and the investment will lead to closer working of the two companies, which will help Newgen to grow faster and garner a larger share of the fast-growing BPM market.”