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Technologies, a leading provider of enterprise applications
services.Prior to Solix Technologies, Veena held several
management and development roles at Cisco Systems, Canon
Information systems and other companies.
Veena Gundavelli has
extensive experience in the software industry. Veena holds a Masters degree in computer engineering from
Santa Clara University and a Bachelors of Engineering in electronics and
communications from Osmania University.
Veena is also the recipient of the "Trailblazer of the Year" award, by
the Forum for Women Entrepreneurs (FEW), United States. Veena is a
non-resident Indian hailing from the city of Hyderabad.
Emagia has its R&D center in Hyderabad employing over 50 people and has
recently announced plans to expand its operations in India.
Emagia Corporation has raised successfully its 3rd round of Venture
Capital Funding of US$ 7 million. Disclosing this addressing a press
conference recently, Ms. Veena Gundavelli, Chairperson and Founder of the
company, informed that the funding has been done by Timeline Ventures
along with existing investors Sigma Partners and West Bridge Capital, a
total of US$ 7 million. The fund focuses primarily on cross-border
U.S.-India technology and services companies that are targeting global
markets, said Ms. Veena.
Earlier on two accounts Emagia raised US$ 7 million each. With the new
investment coming into the company, Emagia would soon embark on
expansion of its products and services, reach and penetrate newer
markets, both in US and in India, Ms. Veena informed.
Continuing Ms Veena informed that a significant portion of the funds
would be invested in its fully owned Indian subsidiary. The company
announces major expansion plans for the R & D team, Professional
Services team and Support team based from India. Emagia India is also
looking at augmenting the strength at the level management layer.
As part of the expansion, significant increase in infrastructure
facilities is also being planned which includes additional facilities,
communications, and systems and infrastructure. The company is also
investing significant amount in employee welfare programs.
The company continues to strengthen its leadership position in
optimizing working capital management for Global 2000 companies. Emagia
recently announced several new customer wins including Autodesk, Textron
and Parker Hannifin. Along with key customer wins, Emagia product
solutions continue to result in million of dollars in cash flow and
working capital improvements for existing customers such as Syngenta,
Leiner Health Products, Volt Information Sciences and Solectron.
Emagia continues its unwavering commitment to delivering significant and
sustainable value to its customers," said Veena Gundavelli, Emagia’s
Chief Executive Officer. "Our focus continues to be on constant
innovation that allows us to steer working capital management to new
heights for leading corporations. Emagia is well funded and firmly
committed to delivering the best technology solutions to our customers."
About Emagia
Emagia Corporation is the leading provider of cash flow management
solutions that streamline and automate cash flow processes for Fortune
2000 enterprises. Emagia solutions allow companies to realize benefits
including maximizing cash conversion efficiency, facilitating strong
internal controls for financial reporting and improved returns from cash
flow management. Headquartered in Santa Clara, Calif., Emagia products
are based on EJB, Java, Web Sphere, Oracle, SQL technologies and
integrate with SAP, Oracle, BaaN, PeopleSoft and other back-office
financial systems. Emagia solutions can be deployed using standard
enterprise licenses or secure, reliable Emagia Hosted Services.
Maju Kuriakose
Reachout's News Bureau
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