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Happiest Minds gets happy with $45M Series A funding

The round is led by Canaan Partners, Intel Capital and Ashok Soota

Financial trends and news by Ane Howard
November 16, 2011 | Comments
Short URL: http://vator.tv/n/21a1

 

India-based Happiest Minds announced Wednesday that it raised $45M Series A funding from Canaan Partners, Intel Capital and Ashok Soota. 

The cloud computing IT services company plans to use the funds to expand its market share globally and to hire new talent.  

"Happiest Minds is a services company. The funding will be used to ramp up and scale business development and delivery on all service lines including application development and support, infrastructure and security, and software product engineering. [We] will also use the funding to build practices in cloud, mobility, social media, analytics and unified communications," Vikram Gulati, Happiest Minds' CEO said to me this morning.

As a private company, Happiest Minds would not disclose its revenues but is confident that this new funding is going to boost sales.

"[It will give us the] ability to hire more sales and business development talents, expand further into US and UK markets, and eventually expand into additional European countries and the Asia Pacific," said Gulati

Keeping a focus on what the company calls "disruptive technologies," the company offers sophisticated IT services in the area of cloud computing, social media, mobility solutions, unified communications, business intelligence and analytics.  As Gulati explains, disruptive technologies are easily adaptable from the business-to-consumer market to the business-to-business.

"Cloud, mobility, social media, analytics and unified communications. These technologies are moving over from the consumer to the corporate IT space, disrupting the current corporate IT landscape."

Launched on August 29, 2011 by Ashok Soota, Happiest Minds is already well established in the US, UK and India but the client list remains a mystery. Gulati would only say that two of the company's US clients consist of large $1 billion+ companies.

The company is headquartered in Princeton, NJ and the sales office is in Seattle, WA.

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