Skelta Software raises first round from SIDBI Venture Capital Ltd
Released on = November 20, 2006, 8:45 pm
Press Release Author = Skelta Software
Industry = Software
Press Release Summary = Skelta Software, a privately held software product company headquartered in Bangalore, India and a leading BPM Workflow vendor specializing in enterprise-wide Business Process Management (BPM) workflow software solutions for small to large-sized businesses worldwide announced today that it has secured $1.5m in venture capital funding from SIDBI Venture Capital Limited (SVCL).
Press Release Body = Skelta Software, a privately held software product company headquartered in Bangalore, India and a leading BPM Workflow vendor specializing in enterprise-wide Business Process Management (BPM) workflow software solutions for small to large-sized businesses worldwide announced today that it has secured $1.5m in venture capital funding from SIDBI Venture Capital Limited (SVCL).
Skelta will utilize the funds to further broaden product development, and expand its sales and marketing efforts.
Skelta Software provides innovative products and solutions for the BPM market worldwide. Skelta has been named as one of Asia's 100 fastest growing private companies by Red Herring. Skelta was also the winner of NASSCOM's IT Innovation award and was recently chosen to receive the coveted Deloitte Technology Fast 50 India Award. One of the few software product companies to serve a global market from India, Skelta has over 300 customers in Europe, USA and Asia-Pacific regions. Skelta's flagship product, Skelta BPM.NET is an award winning BPM workflow software that is built on today\'s cutting-edge Microsoft .NET, XML, and web services technologies.
Commenting about the funding, Sanjay Shah, CEO, Skelta Software said "This funding comes at a critical juncture in Skelta's growth. We are poised to extend our footprints in other regions and the funding will catalyze the expansion of our sales, marketing and engineering efforts. I am delighted that a reputed investor like SIDBI Ventures has reposed confidence in our vision and strategy; it reinforces our position as BPM software vendor of choice in the BPM marketplace."
Ajay Kapur , CEO, SIDBI Venture Capital said "Within a short span of time, Skelta Software has managed to carve out a defined niche for itself in the global BPM space. Skelta has demonstrated that it has what it takes to succeed as a product company in a global arena. We are excited to be part of this venture and welcome this opportunity to participate in Skelta's growth".
About SIDBI Ventures
SIDBI Venture Capital Limited (SVCL), a wholly owned subsidiary of Small Industries Development Bank of India, currently manages $135m across two funds, the National Venture Fund for Software and Information Technology Industry (NFSIT) and the SME Growth Fund (SGF). It is a leading SME focused Venture Capital investor with a pan-India coverage having invesments in sectors like Information Technology, Retailing, Logistics and Distribution, Pharma, Alternative Fuels, Light engineering, etc.
About Skelta Software
Skelta Software is an innovative software product company specializing in enterprise-wide Business Process Management (BPM) and Workflow solutions for small to large-sized businesses worldwide. Its flagship product, Skelta BPM.NET 2006 is a BPM workflow software that is built on cutting-edge Microsoft .NET, XML, and Web services technologies. It is also the world\'s first embeddable workflow engine. Skelta enables business users and developers to design and deploy workflow applications using software tools with which they are already familiar. In addition, Skelta enables businesses to leverage on their existing investments in Microsoft technologies such as InfoPath, BizTalk Server, and SharePoint.
Skelta\'s products have won several awards at industry forums such as Microsoft 2006 Regional Winning Customer Award, Best of Tech.Ed in the Software Components category at Microsoft Tech-Ed, MSD2D\'s People\'s Choice Award and NASSCOM IT Innovation 2005 Award. Skelta has also been named one of Asia's top 100 companies by Red Herring magazine. For more information on Skelta and its products, visit www.skelta.com. Skelta may also be contacted on phone at +1 (703) 652-8359 and on email at sales@skelta.com.
Web Site = http://skelta.com/company/2006/skelta-SIDBI-VC.aspx
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