WestBridge Capital Partners today announced that along
with Sigma Partners it has co-led an investment of $7.5
million in Santa Clara-based Emagia Corporation, a leading
enterprise cash-flow management solutions company.
is a leading US-India venture capital firm with $140 million
under management. WestBridge will play a key role, assisting
Emagia in business development and in recruiting senior
staff in India and the US.
Chadha, senior managing director, WestBridge Capital Partners,
and Mark Pine, managing director, Sigma Partners, will
join the board of Emagia. Shailesh Mehta, former CEO of
Providian, will also join the board along with Peggy Taylor,
head of PeopleSoft Investments.
delivers enterprise cash flow management solutions that
help manage cash inflow and outflow performance efficiently,
to optimise working capital. The company has created an
entirely new kind of financial platform collaborative
finance to help companies achieve better fiscal
performance in the new world of Internet business.
collaborative finance suite optimises financial processes
between suppliers, buyers and financial transaction partners
by creating a collaborative environment across multiple
enterprises. Emagia has an office in Hyderabad with a
current workforce of 35 people. The corporation has clients
in Coca-Cola, Network Associates and others.
Partners, with more than $1 billion under management,
has previously invested in companies such as Cascade,
Vignette and Storage Networks. WestBridge Capitals
portfolio includes industry leaders such as Celetron,
Zenasis Technologies and July Systems, among many others.
the proven success of its product line, the customer satisfaction
it has recorded, and a sound business strategy, Emagia
has the right fundamentals to grow into a large, successful
global enterprise, says Chadha. There is increased
market pressure on corporations worldwide to improve the
bottom line, and Emagias solutions help achieve
that by managing cash flow effectively.
its leading-edge product offering and highly successful
deployments at Fortune 500 and Global 2000 companies,
Emagia has established a clear leadership position in
the enterprise cash flow management space, says
Pine. Were very cautious with our investments,
and Emagia meets all of our strict criteria.
and WestBridge Capital Partners have remarkable track
records in building global enterprise software companies,
says Veena Gundavelli, president and CEO, Emagia. Its
a huge validation of our approach to the market that they
would choose to invest in us.