New Delhi:Red Herring has announced that it has chosen Pune-based InnovizeTech Software as a Red Herring Top 100 Asia Tech Startup for its innovations and technologies.

InnovizeTech has developed Sapience, which is a USA and India patent pending solution, with no equivalent today, that helps companies to increase work output by 15-20%.

InnovizeTech founded by four serial entrepreneurs Shirish Deodhar, Madhukar Bhatia, Swati Deodhar and Hemant Joshi, is funded by Indian Angel Network (IAN) comprising best known IT CEOs, entrepreneurs and investors.

The Red Herring Top 100 Asia award recognizes leading private companies from Asia, celebrating these startups’ innovations and technologies across their respective industries.

Shirish Deodhar, InnovizeTech co-founder, said that, “InnovizeTech’s selection as a Red Herring Asia 100 Winner validates the market potential and business strategy of Sapience.

“Sapience’s impact on delivery capability, revenue and profitability is transformational since it does not entail any change in process or additional management overhead. Our client portfolio is expanding rapidly to include large and medium IT Services companies (like Zensar and InfoBeans), product ISVs (including IDeaS and Bio-Analytical Technologies), and Engineering Services firms (such as EnVenture and Excelize). We have initiated a large number of pilots, including at two of India’s Top 10 IT companies.”

Indian Angel Network member Harish Mehta who represents IAN on the InnovizeTech board said, “Red Herring’s recognition of InnovizeTech reinforces the IAN investment in the company. Its product, Sapience, built around core Intellectual Property owned by InnovizeTech, caters to the vital organization need for people efficiency.

“With distributed teams, flexi hours, work from home, contracting and outsourcing becoming the norm at today’s enterprises, we felt that Sapience was the need of the hour, and this recognition and customer pull has borne it out,” Mehta added.

Sapience’s USP is that it delivers automated visibility into Enterprise Effort. It is cloud based, though an on-premise option is available for large enterprises.

“Choosing the companies with the strongest potential was by no means a small feat,” said Alex Vieux, publisher and CEO of Red Herring. “After rigorous contemplation and discussion, we narrowed our list down from hundreds of candidates from across Asia to the Top 100 Winners.

We believe InnovizeTech embodies the vision, drive and innovation that define a successful entrepreneurial venture. InnovizeTech should be proud of its accomplishment, as the competition was very strong,” Alex added.

Red Herring selected the companies on the basis of their financial performance, technology innovation, management quality, strategy, and market penetration. This assessment is complemented by a review of their track record and standing relative to their sector peers, making the list a valuable instrument of discovery and advocacy for the most promising new ventures in Asia.

Red Herring is a global media company uniting the world’s best high technology innovators, venture investors and business decision makers in a variety of forums.