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iCreate Raises Rs 15 Crore to Drive Growth Plan
By
ChannelTimes Staff
Mumbai, Jan 29, 2010 1939 hrs IST
iCreate Software, a Bangalore-based business intelligence company focused on banking products & solutions, announced the successful completion of financing of Rs. 15 crore by IDG Ventures India, an early-stage technology venture capital firm investing in technology and technology-enabled companies.
This funding will be used to fuel iCreate s growth strategy, which includes building a global sales platform, increasing marketing efforts, and continuing investment in product development.
Founded in 2006, iCreate develops products and provides solutions and services in core banking systems. iCreate has pioneered the "Banking Intellisense" approach to business intelligence and improvement in banking systems. The company is currently focused on the emerging markets with clients in Africa, the Middle East, APAC and Europea regions and is looking to expand its focus to include mature markets.
"At iCreate, we are working on next-generation business intelligence and analytics products & solutions to enable and empower our customers. IDG Ventures, with their experience in helping start-ups, realize their full potential will definitely strengthen the iCreate team," said Vivek Subramanyam, CEO of iCreate.
"We chose to partner with IDG since they shared our passion about the potential of banking BI and analytics and our belief in the power of the next generation BI platform we are creating," said Anup Pai, COO of iCreate.
TC Meenakshisundaram and Ranjith Menon of IDG ventures will join iCreate Software's board of directors.
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