SINGAPORE, May 31, 2024 - inMorphis, a leading pure-play ServiceNow partner, crossed a significant milestone in its journey in the form of a strategic growth equity investment led by Capital Square Partners (CSP), a renowned private equity firm specializing in cross-border technology and business services with co-investment by ServiceNow Ecosystem Ventures. This marks inMorphis' first institutional investment, signifying the beginning of a new phase in the company’s growth trajectory.

This strategic infusion of funds will accelerate the expansion of inMorphis’ go-to-market capabilities and enhance its proficiency in generative AI-enabled technology, with a deep focus on the India and ASEAN market, while expanding its reach in other global markets. It will empower inMorphis to drive hyper growth in target markets through organic initiatives, such as investing in domain and industry experts, sales, marketing, and the development of next-gen accelerators and offerings, tailored to specific business use cases. On the other hand, tuck-in acquisitions will play a pivotal role in the growth strategy, enabling expansion of inMorphis’ capabilities, reach, and scale to achieve long term goals of building a workforce of 2500+ with a maniacal focus on customer success, and expanding wallet share.

Rajeev Srivastava, Managing Partner at Capital Square Partners remarked, “We’re excited to embark on this journey to build a market‑leading ServiceNow services business. On the back of the inMorphis founding team’s strong experience in the ServiceNow space, inMorphis has built robust moats helping them to penetrate enterprise customers globally. We believe that this strategic investment provides the necessary impetus to scale inMorphis operations globally faster.”

“ServiceNow Ecosystem Ventures will continue to invest in promising regional services partners who have deep domain & industry expertise to develop market relevant offerings and solutions enabled by ServiceNow’s AI platform for business transformation,” said David Parsons, senior vice president of Ecosystem Ventures at ServiceNow. “inMorphis is an exemplary partner who has a track record of delivering measurable business outcomes for our customers. This investment will help inMorphis accelerate development of critical GenAI enabled offerings and solutions to targeted buyer personas and industry segments in India & ASEAN.”

“We have had a long-standing relationship and mutually beneficial partnership with ServiceNow over the last seven years,” said Himanshu Singhal, chief executive officer and founder at inMorphis. “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.

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 1,200 ServiceNow credentials. Its global delivery network caters to enterprise clients across multiple verticals, including financial services, technology, transportation, public sector, and telecom.

 This investment will allow inMorphis to expand its chain of delivery centers combining leading domain experts and promising young talent from top universities. New hires will benefit from an industrialized onboarding program and an in-house growth initiative, equipping them with the skills to excel in ServiceNow workflows and stay ahead of the industry curve along with opportunities to lead and own large DX initiatives providing a gateway to become future industry thought leaders/experts.

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

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. www.inmorphis.com

About Capital Square Partners

Founded in 2013 in Singapore, CSP is a private equity firm investing in cross-border technology and business services across Southeast Asia and India. As a sector-focused fund manager with $1.5 billion under management, CSP is one of the largest dedicated technology and technology-enabled business services private equity fund managers in Asia. Over the past decade, the team has invested, created, and exited a number of leading companies in the technology services sector, including Trianz, Bits In Glass, Minacs, Indecomm, GAVS Technologies and Accion Labs. CSP holds a Capital Markets Services (CMS) License from the Monetary Authority of Singapore.

www.capitalsquarepartners.com

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: www.servicenow.com.