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Reachout's  Newsmaker

Veena Gundavelli
 Chairperson and Founder of US based Emagia Corporation

Hyderabad: Born and raised in Hyderabad, Veena Gundavelli founded Emagia in 1998 and successfully shaped it to an established growth-oriented company.Under her leadership and vision, the company established itself as the leader in Enterprise Cash Flow Management area with leading edge products and a marquee Fortune 100 and Global 2000 customer base. Prior to founding Emagia, Veena was a co-founder and vice president of Solix

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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