iLevel Solutions raises $6 Million in funding
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Bangalore: iLevel Solutions, a provider of private equity software and reporting solutions has raised $6 million in a recent round of funding led by Epiphony Ventures, Swift River Investments and Egis Capital. The funding will be used to expand iLevel's suite of software products focused on the Alternative Investment Management market, along with the expansion of business development, sales and marketing activities. iLevel's flagship product, The Portfolio Company Reporting System (PCRS), is an integrated solution that enables private equity firms, venture capital and other direct investment managers to monitor the financial and operational health of their portfolio companies. iLevel was established in January, 2009 as a technology spinout from the Blackstone Group in order to commercialize proprietary technology solutions developed at Blackstone. Investors have foreseen the opportunity for iLevel's offerings. In the words of Gaurav Saraf, Director, Epiphany Ventures, "iLevel offers a path-breaking solution, which has the potential to become the industry standard for investment monitoring and analysis." "We are delighted to have the support of these accomplished and highly respected investment groups to drive the next phase of iLevel's aggressive growth plans," said Rick Kushel, CEO of iLevel Solutions. Lokesh Seth, Chief Technology Officer, iLevel Solutions, play a key role in making iLevel's presence much stronger, he manages the development of iLevel's software products.