Saturday, June 1, 2024

ServiceNow Ecosystem Ventures Make Strategic Growth Investment In inMorphis, A Leading ServiceNow Pure-Play Partner In India

* The strategic investment aligns with ServiceNow’s corporate priority on emerging growth markets and it’s RiseUp global initiative to skill one million people on ServiceNow.

ServiceNow (NYSE: NOW), the AI platform for business transformation, announced a strategic investment in inMorphis, a global IT Company and leading pure-play ServiceNow partner. The ServiceNow Ecosystem Ventures Program investment will accelerate the expansion of inMorphis’ go-to-market capabilities with a deep focus on India and ASEAN markets and enhance its proficiency in generative AI-enabled technologies. It will also develop job-ready technology talent as part of ServiceNow’s global Rise Up initiative. ServiceNow Ecosystem Ventures is investing in inMorphis alongside Capital Square Partners (CSP), the lead investor.  

India's journey into the Techade is at a new inflection point, as the second fastest digitizing economy in the world.  Digital ecosystems spanning sectors such as financial services, logistics, job markets, and e-governance could account for up to half of the projected growth. While companies embrace digital transformation to improve efficiency, gain competitive edge, and boost new revenue streams, they face significant hurdles, including infrastructure gaps, challenges in integrating legacy systems, and a shortage of necessary skilled talent.

The investment, along with ServiceNow’s platform capabilities and expertise, will empower inMorphis to drive hyper growth in target markets such as India and ASEAN through inorganic initiatives, strategic tuck-ins, to expand capabilities and footprint in select industries and markets.

Marion Ryan ServiceNow VP Global Partnerships and Channels APAC, said, “As a pure-play ServiceNow partner in India, inMorphis has demonstrated exceptional ability in leveraging our platform capabilities to drive significant digital transformation for enterprises. This investment underscores our commitment to fostering innovation, deepening Gen AI-led offerings, and accelerating time to value for enterprises. As part of our global RiseUp campaign, we look forward to creating a cutting-edge and agile workforce with inMorphis to address the tech skills development opportunity in the industry”.

Himanshu Singhal, Chief Executive Officer and Founder at inMorphis said, “We have had a long-standing relationship and mutually beneficial partnership with ServiceNow over the last seven years. As a pure-play partner, we have been at the forefront of advancing the adoption of ServiceNow and have successfully implemented industry defining solutions in several sectors. ServiceNow’s platform and expertise will accelerate our growth journey and help us expand our delivery and sales footprint throughout India and beyond, organically and inorganically.”

In support of RiseUp with ServiceNow, a global skilling initiative aimed at digitally upskilling one million people, inMorphis will equip and deploy more than 2500 professionals with in-demand skills on the NOW platform. This expansion will enable inMorphis to effectively address urgent customer needs and drive success at scale. The future-ready workforce, composed of domain experts and university graduates, will not only be well-versed in ServiceNow workflows but also empowered to lead significant digital transformation projects.

Founded in 2015, inMorphis maintains a steadfast focus on innovation, having developed a suite of unique proprietary products and accelerators to complement and extend ServiceNow platform capabilities and supporting enterprise customers in their digital transformation journeys. inMorphis has a highly skilled team of 350+ niche experts with over 1,300 ServiceNow credentials. Its global delivery network caters to enterprise clients across multiple verticals, including financial services, technology, aviation, and telecom.

ServiceNow Ecosystem Ventures program, launched in May 2023 to fuel partner growth in key emerging global markets. ServiceNow’s support allows partners to extend their go?to?market capabilities and deepen their experience with ServiceNow’s technology and solutions to deliver value more quickly.  The investment builds on ServiceNow’s commitment to invest in India and ASEAN market. In October 2023, ServiceNow joined Accel as a co-investor in ANSR (an Accel portfolio company) to accelerate growth in key global markets and increase talent capacity for ANSR clients by establishing ServiceNow Centers of Excellence in more than 60 GCCs across India. Recently, ServiceNow Ecosystem Ventures has invested in global companies including  Blueship Co.,Ltd and Japan System Co., Ltd., Plat4mation and AoraNow.

Avendus Capital acted as the exclusive financial advisor to inMorphis for this transaction.

About ServiceNow 

ServiceNow (NYSE: NOW) is putting AI to work for people.  We move with the pace of innovation to help customers transform organizations across every industry while upholding a trustworthy, human centered approach to deploying our products and services at scale. Our AI platform for business transformation connects people, processes, data, and devices to increase productivity and maximize business outcomes. For more information, visit: 

About inMorphis 

Founded in 2015, inMorphis is a pure play ServiceNow partner based out of India that caters to enterprise clients globally focusing on financial services and telecommunication segments. Its global delivery network of 400+ employees is spread across 7 locations. Provides enterprise service management on the NOW platform. inMorphis has been recognized as the ServiceNow APJ Partner of the Year winner for 2022 and 2023.

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