Iteamic gets funding from Canbank

Bangalore-based software services company Iteamic, has secured funding from Canbank Venture Capital Fund Ltd India, for an undisclosed stake.

According to an official release, this is the company's first infusion of external funding. The funds are expected to facilitate Iteamic's expansion plans and augment its infrastructure, R&D, sales and marketing initiatives.

Iteamic founder and CEO Raghurama Kote said, "We are delighted to be partnering Canbank Ventures and with this new partnership we have the collective experience to sustain and grow our marketshare and augment our global penetration."