IDG Backed iCreate Gets 50 Crore Investment From Sequoia Capital


Bangalore: iCreate, a data analysis firm focused in the banking sector has got 50 Cr investment in Series B round from a consortium led by Sequoia Capital. Gautam Mago of Sequoia will be joining the board of the firm, which has outlined expansion in product offerings, product improvement and geographical expansion as the usage of funds.

IDG ventures, who participated in the current round, had earlier invested $3.2 Mn in Series A round in 2010. iCreate was founded in 2006 and focuses on transforming the raw data generated by banks into reports and dashboards of meaningful information.

The firm, which now focuses in Asia, Africa and Middle East, is looking forward to expand its operations to North America, U.K. and Western Europe. Over the years, it had developed business intelligence products for some of the leading banks such as Bank of America, Gulf Investment Corporation, Indonesian Bank Mandiri and HDFC Bank. 

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