Dallas-based VC firm Naya Ventures has found success in another one of its portfolio companies.
Motivity Labs, a local startup founded in 2009 that offers innovation-as-a-service has merged with JNIT, an IT consulting and solutions firm. Naya Ventures today announced it was selling its stake in Motivity Labs.
From its offices in Irving and India, Motivity Labs helps Fortune 500 firms and local governments accelerate innovation. Motivity’s concept of an innovation hub is powered by five individually focused labs: data science, mobile and web, cloud, testing and automation, and the Internet of Things.
JNIT, a 650-employee firm that also has offices in the U.S. and India, is a subsidiary of Magellanic Cloud Ltd, which offers software development, consulting, and HR solutions.
JNIT looks forward to welcoming the 400-person team at Motivity Labs. The combined team will double down on efforts to deliver world-class innovation, Joe Thumma, CEO of the merged company, said in a statement.
Former CEO of Motivity Labs Prabhakar Reddy agreed—and noted that the exit is also a testament to Naya Ventures mantra of “leading by collaboration.”
Naya Ventures is an early-stage and growth equity investment firm that invests in U.S.- and India-based emerging technology and cloud B2B companies, as well as big data firms. The hands-on team uses its product development expertise, emerging market channel relationships, and strategies to increase market value.
The firm’s portfolio companies now exceed an enterprise value of $1BB. It is quickly becoming a VC platform known for enabling “startups for early success while aspiring to accelerate returns for investors,” Naya said. To date, that includes 20 investments in companies and five successful exits.
“We provide capital, mentoring, networking, business development, accelerate value creation for all stakeholders including the startups and investors,” Dayakar Puskoor, Naya Ventures managing partner and co-founder said. Companies the VC has invested in include CoreStack, Viviota, DocSynk, and AmplifAI.
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