Demand for digital capabilities is rapidly increasing as companies look to find ways to automate and optimise their operations, the company said in a statement.
Suraj Arukil, cofounder and CEO of Nuvento, said, “We’ve seen substantial revenue growth over the past two years, driven primarily by our cloud capabilities, including building transformative digital experiences for our clients. This investment from Tests Assured will help us scale our US and global operations as we continue to build Nuvento into a leading Cloud Service Provider.”
According to Gartner, over half of enterprise IT spending in key market segments will shift to the cloud by 2025.
“Nuvento has built up a very strong cloud and AI technologies portfolio, backed by a world-class team of engineers and developers,” said Imad Abdelgawad, CEO and founder, Tests Assured.
In the past 12 months, Tests Assured has invested in companies specialising in Blockchain, AR/VR, and now with Nuvento, we welcome our first investment in the cloud space, Abdelgawad added.
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According to Nuvento, many domains that have been non-cloud in the past are now shifting to public cloud services as enterprises adopt distributed cloud solutions, expanding the addressable market.Manoj J Manayathumariyil, cofounder and managing director, Nuvento, said: “In the last 24 months, Nuvento has been multiplying and diversifying its operations across India & Canada. With this investment, we will continue to expand our global workforce to support our growth.”
One of the major areas of focus will be our EduHealth product line, he added. Nuvento said that EduHealth product line serves 70,000 users. It projects the user base to grow to 250,000 users by 2025.
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