OfBusiness Launches AI-Powered SaaS Platform Ahead of $1 Billion IPO
B2B marketplace OfBusiness has unveiled Nexizo.AI, a new SaaS platform designed to help mid-market and large companies accelerate their business growth. The platform will be used as OfBusiness prepares for its anticipated $1 billion IPO in late 2025.
The AI-powered platform Nexizo.AI provides companies with tools to identify potential buyers, access market intelligence, and track raw material prices. And that's not all, as it also offers software solutions for optimizing sales, logistics, and inventory management. The company is primarily targeting top-tier SMEs in the infrastructure and manufacturing sectors.
"Nexizo.AI is another step towards our digital journey towards helping SMEs to get seamless end-to-end experience to create a high-value market," said Asish Mohapatra, founder and CEO of OfBusiness. "The platform allows us to open our ecosystem to other players, offering not just lead discovery but a seamless end-to-end transaction experience tailored for high-value markets."
While the company's existing BidAssist platform focuses on government contractors, Nexizo.AI is designed for more significant established players in the private sector. The BidAssist platform's AI engine processes over 25 million data points annually from more than 50 million tenders and documents.
Established in 2016 by Mohapatra, Nitin Jain, Ruchi Kalra, Vasant Sridhar, and Bhuvan Gupta, OfBusiness has already impacted more than 400,000 businesses through its technology solutions, delivering to over 13,000 SMEs. The company specializes in raw material procurement and financing solutions for SMEs in the manufacturing and infrastructure sectors.
The launch of Nexizo.AI represents a strategic move as OfBusiness prepares for its public listing. OfBusiness has appointed five investment bankers—Axis Capital, Morgan Stanley, JPMorgan, Citigroup, and Bank of America—as the bookrunners for its IPO. The offering, planned for the latter half of 2025, aims to raise $1 billion, including a fresh issue worth $200 million. The company seeks a valuation between $6 billion and $9 billion.