Indu Navar founded Serus Corp. bags $5.3 M in series B funding

By siliconindia staff writer   |   Friday, 05 August 2005, 19:30 IST
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MOUNTAIN VIEW: Serus Corporation, an enterprise software solution provider, today announced the completion of a $5.3 million round of Series B financing. The round was co-led by Raman Khanna, managing director for Diamondhead Ventures, and private venture capitalists Dr. Prabhu Goel, chairman for iPolicy Networks, and Naren Gupta, vice-chairman for Wind River Systems. Also participating in the round were Kelly Porter, managing partner for ZAP Ventures and all of the investors that participated in the company's Series A funding round. The company expanded its board of directors to include Dr. Prabhu Goel and Raman Khanna. They will join Ruby Sahiwal, chief executive officer for Simpacta, Inc. and founder and chairman for Accelcia Business Services; technology consultant and long-time alumni of IBM and Oracle Jnan Dash; and Indu Navar, co-founder and chief executive officer for Serus. Dr. Goel was elected chairman of the board. As founder and CEO for Gateway Design Automation, he led the team that invented Verilog, the industry standard semiconductor simulation software package. In recent years, he has dedicated much of his time to helping privately held companies to flourish. The first company to provide a customizable software system that integrates business processes and rule drivers among manufacturing partners, Serus Corporation was founded in 2001 by Indu Navar and Barbara Hoefle. They bootstrapped the company, growing it from a customer-funded operation to a successful company with accelerating revenues and tier-one customers. This influx of funding will be allocated towards sales and market development.

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