Iteamic secures funding from Canbank Ventures

Bangalore, Jun 27 (UNI) Iteamic City based software provider for financial services, banking and insurance segments has secured funding from Canbank Venture Capital Fund to propel its next level of growth.

The funding would accelerate Iteamic's expansion plans and augment its infrastructure, R and D and sales and marketing initiatives.

Iteamic founder and CEO Raghurama Kote said, "After significant amount of interest shown by various investors we have decided to partner with Canbank Ventures. Our aim is to double our business to ten million dollars this year. We also want to further develop our US marketing portfolio management and add more professionals to the present 200," he said.

The official said Iteamic provided solutions to meet business challenges through consultative services spanning - application management solutions, product collaborative development and dedicated offshore development centres for global clients.

"In the current scenario, focussing on niche segments is the way for small and medium enterprises. Our advantages is that we understand their language and can provide better solutions, Mr Kote said.

UNI