Eka Software

Eka Software, founded in 2004 by Manav Garg, operates as a global provider of commodity management solutions. The company originated from Garg's direct experience as an agricultural trader, where he identified critical deficiencies in existing trading and risk management software. This firsthand insight led him to conceptualize a more effective solution, initially mapping out the process on paper before assembling a tech team in Bangalore to develop the software.

Garg's journey as an entrepreneur began after obtaining an engineering degree and an MBA from the Indian Institute of Foreign Trade, followed by a stint as a coffee trader. He launched Eka with his personal savings before securing $1 million in seed funding from his former employer, GP Group. Subsequent funding rounds included $10 million from Nexus Venture Partners in 2009 and a significant Series C round of $40.7 million in 2013, led by Silver Lake. In total, Eka raised $56.8 million over three rounds. A major milestone in the company's history occurred in April 2024, when it was acquired by the US-based private equity firm Symphony Technology Group (STG) and merged with STG's portfolio company, Quor Group. Following the acquisition, Garg transitioned to a board advisor role for the merged entity.

Eka provides a cloud-based, vertical SaaS platform designed for commodity and supply chain management. The business model is subscription-based, offering clients a suite of applications to manage the entire commodity lifecycle. This includes procurement, trading and risk management (CTRM/ETRM), supply chain logistics, compliance, sustainability reporting, and treasury functions. The platform serves a diverse client base across the agriculture, energy, metals, mining, and manufacturing sectors, counting major global enterprises like Cargill, Rio Tinto, and Petronas among its over 100 customers. The platform's app-based architecture allows customers to select specific functionalities as needed and scale by adding more applications over time. This contrasts with traditional, monolithic systems by offering faster, cloud-based implementation and greater flexibility. The system integrates data from disparate sources in real-time to provide analytics and insights, helping businesses navigate volatile markets and optimize operations. Eka's offerings feature over 50 applications and more than 65 pre-built connectors to external systems like SAP and Oracle, facilitating rapid deployment.

Keywords: commodity management software, CTRM, ETRM, supply chain management, risk management, agricultural trading, energy trading, metals and mining software, Manav Garg, procurement software, SaaS platform, commodity analytics, trade management, logistics software, sustainability reporting, treasury management, Symphony Technology Group, Quor Group, Nexus Venture Partners, Silver Lake, cloud platform, commodity lifecycle management, enterprise software