Bangalore-based data analytics firm iCreate Software on Wednesday said the company has raised Rs 50 crore in Series B funding led by Sequoia Capital.
The company had earlier raised Rs 15 crore in Series A from technology investor IDG Ventures, who also participated in the series B round. As part of this investment, Gautam Mago from Sequoia Capital India Advisors will join the board, it said.
“iCreate has been delivering compelling value to the global banking sector with their banking BI and analytics products. In a very short period of time, they have built up an admirable roster of clients by delivering vital, actionable business intelligence to banks,” Shailendra Singh, Managing Director, Sequoia Capital India Advisors said.
With the funding, iCreate is planning to expand its product portfolio and also to enter newer geographies including North America. Currently, the company has an overseas subsidiary based in South Africa.
Leading banks like HDFC Bank, IndusInd Bank, Bank of America, Gulf Investment Corporation, Capitec Bank, BankMandiri, SAIB Egypt and East West Bank are some of its clients.