ValueFirst raises $15 Million funding from Headland Asian Venture and NEA
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Bangalore: Gurgaon based ValueFirst Messaging, Enterprise Communication Service provider, raises $15 million funding in the fresh round from wholly owned subsidiary of the Headland Asian Ventures Fund 3, advised by Headland Capital Partners (formerly known as HSBC Private Equity) with participation of existing investor New Enterprise Associate (NEA). The company has almost $20 million with the fresh round of funding as well as the internal accruals to fund its inorganic expansion plans. As told by Shalini Tewari, Head- Strategic Resource Management to Siliconindia, "Funds will be used to fuel exponential growth through acquisitions in domestic market and overseas to offer a device and platform agnostic approach to its customers through enhanced offerings in SMS, Voice, USSD, WAP, Media and Apps." Over the last 2 years the ValueFirst group has followed growth strategy with four to five acquisitions and diversified into Digital Media, Mobile Applications and M-commerce. It plans to continue growing and is aiming an IPO in next 18-24 months. With workforce of 400-450 employees, company is planning to enhance its presence in 35 cities in India and plan its international expansion especially in Middle East and East Africa. Valuefirst claims to have almost 3,000 customers and their corporate clients include ICICI Bank, Standard Chartered, Bajaj Allianz, HCL, Nicholas Piramal, Nortel, Proctor and Gamble, among others.

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