Apoorva Goyal of Insight Partners Reveals How They Invest in and Scale Tech Startups to Global Success

In our exclusive interview with Mr. Apoorva Goyal, Vice President of Investments at Insight Partners, he shares his inspiring journey from a Marwari family business to leading global tech investments. Mr. Goyal shares his passion for supporting high-growth Indian startups and Insight Partners' role in scaling tech innovators.

He also discusses the firm's focus on SaaS, their investment criteria, and how they guide startups towards successful IPOs. With insights on AI’s impact, cross-border investment trends, and practical advice for entrepreneurs, this conversation provides a valuable look into the evolving world of tech investments.

StartupTalky: Can you share your journey in brief at Insight Partners and what inspired you to join?

Mr. Goyal: Born in a ‘Marwari’ family, I grew up living and breathing entrepreneurship. I was introduced early on to the world of sales, products, and profits. Helping my family business with a product launch and managing a few retail stores were some of my responsibilities as a kid. At IIT-Kanpur, I was first introduced to the world of startups. Over the next few years, I had the privilege of working with and supporting several ambitious engineer-founders trying to solve challenging world problems using cutting-edge technology. The experience made it clear to me that I wanted to dedicate the next few decades of my life to the service of founders.

I joined Insight Partners in 2021, driven by this passion for technology and investment. I have been driving our efforts to invest in leading Indian startups building for the world. I was drawn to Insight’s reputation as a global software investor. It has been investing in high-growth software ScaleUps for almost three decades and this experience has positioned the firm to help founders scale their companies globally. The firm’s hands-on approach and commitment to supporting high-growth technology companies particularly resonated with me. The opportunity to help visionary leaders scale and succeed on a global stage continues to inspire my work here.

StartupTalky: What sectors do you at Insight Partners focus on, and why do you think they have strong growth potential?

Mr. Goyal: I am focused on high-growth technology, software, and Internet startup and ScaleUp Indian companies that are driving transformative change in their industries. From the earliest institutional check to scaled growth checks, we meet great software leaders where they are in their growth journey and support them with what they need to be successful.

I am particularly excited about the SaaS sector (esp. Indian companies building for global markets) due to its scalability, predictable recurring revenue models, and strong market demand. The shift towards digital transformation, remote work, and cloud migration has accelerated SaaS adoption. Continuous innovation and integration capabilities enhance its appeal. SaaS offers significant revenue opportunities from both large enterprises and SMBs globally. This combination of strong growth potential, robust returns, and the dynamic nature of the SaaS market makes it a highly appealing sector for me.

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StartupTalky: How do you choose which high-growth companies to invest in?

Mr. Goyal: As a firm, we meticulously evaluate companies with visionary leadership, innovative products, and scalable business models. Key factors include market potential, product-market fit, and financial health. We conduct extensive due diligence, including market research, customer interviews, and financial analysis. Our in-house experts provide deep operational expertise to help identify companies poised for growth. This thorough evaluation enables us to invest in companies with the potential for sustainable success and industry leadership, and then we leverage this deep dive to be ready to support them from day 1.

StartupTalky: How do you help startups from their early stages to prepare for an IPO? How does Insight Partners support the growth of tech startups beyond just financial investment?

Mr. Goyal: We support founders as they set their strategy from an early stage and give them a global perspective on success and how to get there. We have a dedicated team called Onsite, comprising of 140+ in-house experts across multiple domains. The team provides deep operational expertise, access to expansive networks, and targeted solutions to help high-growth portfolio companies scale faster and more effectively. Onsite’s targeted Centers of Excellence (COEs) and operational experts in marketing, sales, product, pricing, people, and more are equipped to address the unique needs of these companies and foster business excellence as they grow.

Furthermore, our expansive network of 800+ investments provides valuable peer networking opportunities. Founders have the chance to learn from their collective experiences and connect with individuals who have been in their shoes and understand the unique challenges of scaling a company. Our goal is to position startups for a successful IPO and long-term success by leveraging our extensive experience and resources.

StartupTalky: Could you share a success story of a startup you have worked with at Insight Partners that particularly stands out to you?

Mr. Goyal: A notable success story would be M2P. We partnered with them in early 2022, providing capital and strategic support. Our collaboration helped streamline operations, refine their product offerings, and expand market reach. We helped them drive and execute a successful M&A strategy, helping them better serve their customers with a wider breadth of product offerings.

This partnership culminated in M2P establishing itself as a market leader in a relatively short period and being recognized amongst the fastest growing Fintechs in Asia Pacific by the Financial Times for the last 2 years. M2P’s journey from a startup to a scaled fintech leader exemplifies how our targeted solutions, operational expertise, and expansive networks drive transformative growth and industry leadership.

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StartupTalky: What are the typical challenges you face when investing in new markets, and how do you handle them?

Mr. Goyal: Investing in new markets involves navigating regulatory differences, cultural nuances, and market maturity. We address these challenges by conducting thorough market research and building strong local partnerships. Insight’s belief that great software companies can originate from anywhere drives our global investment strategy. We leverage our expansive network and the Onsite team’s expertise to understand and navigate local ecosystems. This approach allows us to mitigate risks and seize growth opportunities, helping our portfolio companies scale effectively in new markets.

StartupTalky: How do you expect AI to impact finance and software, and what effects do you think this will have on investors?

Mr. Goyal: Insight Partners has long fostered AI innovation, investing over $4.5 billion in AI/ML companies and helping our portfolio companies leverage AI to transform core business functions and identify efficient scaling opportunities.

We strongly feel that AI is set to revolutionize finance and software by enhancing efficiency, accuracy, and innovation. In finance, AI can automate complex processes, provide deeper insights through predictive analytics, and improve risk management.

For software, AI enables the development of intelligent applications offering personalized user experiences and innovative solutions. Investors will increasingly continue to focus on companies that are leveraging AI to create competitive advantages. This includes startups pioneering AI applications, as they will likely drive substantial growth and industry disruption.

We believe the widespread adoption of AI will lead to new revenue streams and markets, making it a critical area for investment. Moreover, AI's ability to transform core business functions like product development, marketing, sales, and customer experience ensures that companies integrating AI effectively are well-positioned for future success.

StartupTalky: Are there any specific tools or technologies you use in your business operations?

Mr. Goyal: We leverage several advanced tools and technologies to enhance our operations and are continuously evolving as a firm. We use CRM systems to manage relationships and streamline communication alongside data analytics platforms to help with market analysis and performance tracking. As a firm, we also use several collaboration tools and workflow automation tools to improve firm productivity and effectively monitor portfolio performance. These technologies enable us to operate efficiently, make data-driven decisions, and maintain a competitive edge, allowing us to provide effective support to our portfolio companies.

StartupTalky: If an Indian startup wants to receive investment from Insight Partners, what steps should they take to initiate the process?

Mr. Goyal: We are very accessible as a firm and encourage Indian startups to directly reach out via email or LinkedIn. We strive to respond quickly and are always eager to learn more about companies that fit our broad investment criteria. We love to dig deeper into the overall business plan highlighting market opportunity, innovative product technology, current traction, and overall growth strategy. We also share a ton of our valuable insights and data on our website as we want to not only have long-term relationships with founders, but we want to ensure all entrepreneurs have access to some of the brilliant minds within Insight Partners even before we are able to partner together!

StartupTalky: What are the latest trends in the Indian-US Corridor for investments that entrepreneurs should watch out for in technology and software?

Mr. Goyal: Entrepreneurs should watch for trends like the rise of AI and machine learning, increased focus on cybersecurity solutions, and the growing global adoption of SaaS solutions. Cross-border collaborations and investments are on the rise, with global investors keen on the Indian tech ecosystem. Digital transformation across sectors, including healthcare, education, and finance, presents significant opportunities for innovative technology solutions.

StartupTalky: If you were giving advice to business owners looking to grow their business, what would it be?

Mr. Goyal: My advice to business owners is to build a strong, cohesive team and foster a culture of innovation and adaptability. Understand your market deeply and stay close to your customers to ensure your product meets their needs. Continuously iterate based on feedback and market changes. Invest in scalable processes and technology. Seek mentorship and leverage networks for advice and opportunities. Maintain a clear vision and long-term goals while being flexible in your approach. 

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