Financial Daily from THE HINDU group of publications
Thursday, Apr 29, 2004
Financial Daily from THE HINDU group of publications Thursday, Apr 29, 2004 |
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Info-Tech
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Venture Capital Virtusa raises $20 m in Series D funding Our Bureau
Hyderabad , April 28 VIRTUSA Corporation, the Massachusetts (US)-based software solutions provider with development centres in India and Sri Lanka, has announced it has raised $20 million in its Series D round of financing. This funding was led by Focus Ventures and included participation from existing investors Sigma Partners, Charles River Ventures and Globespan Capital Partners. The Chairman and Chief Executive Officer of Virtusa, Mr Kris Canekeratne, in a statement said, "The proceeds of this round will be used for general corporate purposes, global expansion and sales and marketing. Virtusa grew revenue by 74 per cent with profitability in our 2004 fiscal year that ended March 31."
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