Anup Pai founded iCreate raises 15 Crore

Bangalore: iCreate Software, a Bangalore-based Business Intelligence company focused on Banking products and solutions, has closed Series A round of financing of 15 crores. The investment was made by IDG Ventures India, an early-stage technology venture capital firm investing in technology and technology- enabled companies.

According to the company, 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. Also, T.C. Meenakshisundaram and Ranjith Menon of IDG ventures will join the company's board of directors. "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 BI platform we are creating" added Anup Pai, the Founder, COO and President of Client Operations at iCreate.

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Founded in 2006, iCreate develops products, and provides solutions and services enabling effective and profitable utilization of data in Core Banking systems. With its new approach to business intelligence (BI) 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.

"At iCreate, we are working on the Business Intelligence and analytics products and 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.

iCreate is currently focused on the emerging markets with clients in Africa, Middle East, APAC and Europe regions, and is looking to expand its focus to include mature markets. "iCreate has a proven business model and a capable management team that has delivered successful results in the past and we believe will continue to anchor iCreate's growth into the future," said Meenakshisundaram.