iCreate raises Rs. 15 cr from IDG Ventures India
iCreate Software, a Bangalore-based Business Intelligence company focused on Banking products & solutions, today announced the successful completion of a Series A round of financing of Rs. 15 crores. The investment was made 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. Mr. T.C. Meenakshisundaram and Mr. Ranjith Menon of IDG ventures will join
the company’s board of directors.
Founded in 2006, iCreate develops products and provides solutions and services enabling effective and profitable utilization of data in Core Banking systems. iCreate has pioneered the “Banking Intellisense” philosophy, its radical new approach to business intelligence and improvement in Banking Systems. iCreate intends to become a market leader in the BI for Banking space with multiple offerings covering areas such as BI and Reporting, Collections, Compliance, Risk Management and Fraud detection. iCreate is currently focused on the emerging markets with clients in the Africa, Middle East, APAC and Europe regions and is
looking to expand its focus to include mature markets.
-Hitesh, vcBytes.com
