Connectiva Systems Inc., a arch provider of acquirement and accident administration solutions for the telecommunications industry, today appear the achievement of a $17 actor annular of investment led by NEA - IndoUS Ventures, IFC, a affiliate of the World Bank Group, and SAP Ventures, a analysis of SAP AG. Returning broker Ovation Capital aswell alternate in the round.
“Revenue and Risk Management is a growing charge of advice account providers worldwide," said Avi Basu, CEO of Connectiva Systems. "Telecom companies lose billions of dollars annually due to acquirement arising and added accident factors, and Connectiva plays a axial role in allowance balance this revenue. Our adeptness to badly addition our customers' banking achievement helped us to defended costs from some of the smartest investors globally. We are captivated to acceptable these new institutional investors, as they anniversary accompany different advantages that will advice us extend our all-around administration and reach."
Connectiva’s position as a arch archetype of India’s evolving technology industry is in allotment what admiring investors to the company. The investment annular was led by NEA-IndoUS Ventures, a top-tier adventure basic close based in Silicon Valley and India. “Connectiva is a able fit for our portfolio, with accurate and differentiated technology, rapidly growing revenue, and a different business archetypal that leverages the strengths of India,” said Vinod Dham, Managing Director of NEA-IndoUS Ventures. “Connectiva has generated cogent chump and accomplice absorption in a fast-growing bazaar and the aggregation has the appropriate aggregation in place. It has brought technology aptitude on axle from about the world, as able-bodied as from arch institutions like the Indian Statistical Institute (ISI) and the Indian Institute of Technology (IIT)."
Mr. Dham, bargain accustomed as the "Father of the Pentium" processor, was called one of the top 25 admiral in the computer industry in America and one of the top 100 a lot of affecting Asian Americans of the decade.
Connectiva's accession resonated with the IFC, a arch broker in telecom companies above arising markets. "Connectiva has had abundant success acknowledging all-embracing telecom operators with beat business models for acquirement administration products. IFC is committed to abutment Connectiva to absolutely apprehend its advance potential," said Mohsen A. Khalil, IFC Director for Global Information and Communication Technologies. "IFC is admiring to be associated with a market-leading software aggregation with research, development and account operations based in Kolkata, one of the arising IT centers in India. We achievement that Connectiva's success will activation added ambitious endeavors in that region, arch to added development of the bounded IT industry and conception of added awful accomplished jobs."
Headquartered in New York, Connectiva has offices globally and employs over 300 humans at its Global Innovation Center in Kolkata, India. According to Mr. Basu, “Connectiva does far added than simple activity arbitrage in India – we advance the actual amount of our bookish acreage there. The Indian IT industry is growing up, and we are appreciative to be an archetype of how it can be done." According to Mr. Basu, the company’s revenues accept angled annually for the accomplished several years, and its Kolkata-based plan force has developed from 50 humans three years ago.
The allotment annular was abutting by cardinal broker SAP Ventures, the investment arm of action software aggregation SAP AG. SAP Ventures evaluated abundant companies in the telecom analytics bazaar afore chief to advance in Connectiva. "SAP Ventures about evaluates assorted companies focused on a accurate bazaar articulation on a all-around base afore chief to advance in a accurate company,” said Jai Das, accomplice at SAP Ventures. “Our accommodation to advance in Connectiva was based on its above technology and chump traction. We are analytic advanced to alive carefully with Connectiva's aggregation and allowance it become a all-around powerhouse."
Returning broker Ovation Capital, a New York based investment fund, aswell abutting the investment round. " As such a transnational firm, Connectiva has been able to tap into arising bazaar telecoms, area subscriber bases are all-inclusive and fast growing, as able-bodied as into complete telecom markets,” said Greg Frank, Managing Partner of Ovation Capital. “It has again apparent an adeptness to acclimate to an evolving, aggressive exchange and to focus area it matters. Connectiva's abundant absorption to its customers' needs, its activated and above technology, and its people's activity and bloom accept been accurate by this disinterestedness round. We ahead Connectiva solidifying its advance in the evolving acquirement and accident administration markets."
Connectiva Systems' projects accept been accustomed by abundant industry awards, including the celebrated World Billing Award for "Best Revenue Assurance Project". Connectiva has implemented the better acquirement affirmation projects worldwide. Its arrangement processes over four billion alarm abstracts annal per day - far beyond any added aggregation in the industry.
Vinod Dham, Managing Director of NEA-IndoUS Ventures and Pravan Malhotra, Senior Investment Officer with IFC's Global Information and Communications Department, will accompany Connectiva's axle of admiral with actual effect.
About Connectiva Systems
Connectiva Systems makes acquirement and accident administration software that enables telecom operators to get added achievement and abundance from their absolute infrastructure. Connectiva's award-winning chip artefact apartment has solutions for acquirement assurance, artifice management, acclaim risk, and analytics, which can be either deployed apart or in tandem. Operators who accept partnered with Connectiva to balance over bisected a billion dollars in acquirement cover Bharti Airtel, the Zain Group, Wataniya Telecom, Tunisiana, BSNL, Etisalat, Cable & Wireless, and others. Headquartered in New York, Connectiva has offices worldwide, with added than 300 humans in its Global Innovation Center in Kolkata, and cogent attendance in New Delhi, Kuwait City, London, Singapore and Mexico City. For added information, appointment www.connectivasystems.com.
About NEA - IndoUS Ventures
NEA - IndoUS Ventures is a adventure basic close based out of Bangalore, India and Silicon Valley US. The close is committed to creating technology and technology enabled avant-garde companies out of India that serve both the Indian and the all-around markets. The firm's ally accept the different acquaintance and ability to breeding entrepreneurs and actively advice the development and ascent of able companies. In addition, a cogent accomplice in this armamentarium is New Enterprise Associates (NEA) who is a sponsor and breath advisor. This arrangement of aggregate relationships and acquaintance is an invaluable asset to entrepreneurs and portfolio companies. For added information, appointment www.neaiuv.com
About IFC
IFC, a affiliate of the World Bank Group, creates befalling for humans to escape abjection and advance their lives. We advance acceptable bread-and-butter advance in developing countries by acknowledging clandestine area development, mobilizing clandestine capital, and accouterment advising and accident acknowledgment casework to businesses and governments. Our new investments totaled $16.2 billion in budgetary 2008, a 34 percent access over the antecedent year. For added information, appointment www.ifc.org.
About Ovation Capital
Ovation Capital is a New York based investment close with adventure basic and quantitative trading programs. Our adventure basic affairs targets investments in technology companies with aggressive offerings in growing markets. The a lot of important archetype in our investments is the above of administration - we accomplice with energetic, articulate, aggressive humans with a bright eyes and a accurate adeptness to lead. For added information, appointment www.ovationcapital.com.
About SAP Ventures
SAP Ventures invests in avant-garde and confusing software and casework companies globally. We accompany opportunities above all stages for outstanding banking return. Our ambition is to accompany abundant account to all parties by facilitating alternation amid portfolio companies and SAP and its ecosystem of barter and partners. SAP Ventures has a acknowledged clue almanac of architecture industry-leading companies by partnering with outstanding entrepreneurs and top-tier adventure basic firms back 1996. For added information, appointment www.sapventures.com.
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