Dilip Venkatachari founded Compass Labs raises $1 Million

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Bangalore: Google and Yahoo veteran Dilip Venkatachari founded Compass Labs, the stealth mode search and social media focused startup has raised $1 million worth of a $1.1 million round of funding, per a SEC filing. The New Enterprise Associates (NEA) also participated in the funding.

Venkatachari did not disclose any specific details about the Cupertino, the California based startup's product, but as per his background, there will be a mobile component early on.

Previously serving as Entrepreneur In Residence (EIR) at the firm, Venkatachari has also spent two years as Director of mobile advertisements products at Google and was on the board of directors of dotMobi. He also served as Yahoo's Vice President of insights data strategy. The filing also lists Arjun Jayaram, current Vice President of Engineering at comparison shopping engine Become.com, as one of Compass Labs' executive officers.

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