Processing .....please wait.. 
The article has been forwarded.... 
CustomerXPs raises $4 Million in Series A from JAFCO
By siliconindia
Bangalore: Bangalore-based CustomerXPs Software, a real-time intelligence software product company has raised $4 million in series A funding from JAFCO Investment (Asia Pacific). Ernst and Young acted as financial advisor to this transaction.
The fund raised will be used to expand its global sales, marketing and delivery teams and towards further R&D, including creating distributed SaaS versions of its offerings. JAFCO Asia's Murli Ravi joins CustomerXPs Board of Directors.
Ravi said, "India is renowned for its prowess in software outsourcing. However, few Indian software product companies exist and barely a handful can be said to make truly innovative world-beating products. CustomerXps is one of those few. Moreover, the entire team, including its advisors Sharad and Anuradha Hegde, has shown great passion and commitment to the long-term vision."
Founded by product veterans of the enterprise software industry in 2006 by Rivi Varghese, Aditya Lal, Balaji Suryanarayana and Sandhya V, CustomerXPs is into creating 'Moment of Truth' Real-time systems for enterprises, system with thinking, learning, inferring capability. It can identify and solve, in real-time, complex problems in the areas of customer engagement, contextual right-sell, fraud, pricing and compliance while a transaction occurs, by using a human-like fuzzy, judgment-based approach.
The founders have previously worked in senior roles at global leaders such as Infosys, Amazon.com, Microsoft, Accenture and Wipro. The company's product team has proven experience in conceiving, creating and delivering innovative software products, having previously delivered 12 'new-to-the-world' products that are now being extensively used by leading global banks.
Its products are initially aimed at Global Tier 1 bank; ICICI Bank is one of such customer. It also has substantial interest in its offering across the telecom, retail, internet, insurance, healthcare and airline industries. Rivi Varghese, CEO and Co-Founder, CustomerXPs, said, "Our ambition has always been to create an innovative, IP-led global product company. We need an integrated approach with a robust process framework to innovate, deliver, sustain, fund and support products. The biggest concern while raising the fund was if we could find the right investor who can understand the product business and can engage with us deeply on both strategic and operational issues and we are happy to partner with JAFCO."
A subsidiary of JAFCO Company, a private equity firm in Japan, JAFCO Asia is a venture capital firm with primary focus to invest in promising technology enterprises with high growth potential. Headquartered in Singapore and presence in Shanghai, Beijing, Hong Kong, Taipei and Seoul, the firm has approximately $730 million in funds under management. JAFCO Company is a part of the Nomura group of companies. Is has over $5 billion under management and is listed on the Tokyo Stock Exchange. Last year, JAFCO Asia and Intel Capital invested $5 million in an exam preparation platform company Vriti Infocom. The portfolio of the company consists of Si2 Microsystems, Apnapaisa, Mistral Solutions, Microqual Techno, Telsima Corp, Vignani Technologies and Microland.
