This is the second investment by Helion Venture Partners in the enterprise mobility space after EzeTap and marks its fourth deal of the year. Helion, which is an India-focused fund, has over USD 600 million under management.
RapidValue counts companies across the US, Europe, West Asia and India among its customers. The funds will be used to grow in various geographies and strengthen its delivery capabilities, RapidValue said in a press release.
Helion is the only institutional investor in the company and Rahul Chandra, a managing director at Helion, will join the board of RapidValue.
Globally, the market for mobility services is expected to cross USD 32 billion by 2018.
RapidValue was set up in 2009 by IIT-IIM alumni Rajesh Padinjaremadam and Sirish Kosaraju, along with chief architect Rinish K Nalini.
The company offers a range of mobility services. With over 50 customers and having delivered 350 mobility projects since inception, RapidValue aims to grow at 100 per cent annually over the next five years.