Excl: Accel Partners Invests $2.8M In Cloud Firm Enterprise Nube
Bangalore-based Cloud services company Enterprise Nube Services Pvt Ltd has raised $2.8 million (Rs 15 crore) from venture capital firm Accel Partners. As part of the deal, Mahendran Balachandran from Accel will join the board of Enterprise Nube. Prior to joining Accel, Balachandran was a Partner at Erasmic Venture Fund and earlier worked with Apple as country general manager. At Accel, he focuses on areas like healthcare, enterprise/SaaS and digital media.
When contacted, Balachandran refused to comment on the development while Enterprise Nube could not be contacted till the time of filing this news piece.
Enterprise Nube was started in 2011 by former Infosys executive council member Subhash Dhar. Dhar had a 14-year stint at Infosys and at the time of leaving the company, he was senior vice-president and worldwide head of sales, marketing and alliances apart from being a member of the Infosys executive council.
Enterprise Nube provides Cloud solutions for companies in marketing, sales and customer service domains and helps enhance customer engagement through social networks like Facebook, Twitter and LinkedIn. 'Nube' means 'cloud' in Spanish and the company will also provide customised Cloud service packets to companies in the digital enterprise space. Because of its focus area, the firm also faces competition from big players like IBM, Infosys and Accenture.
Accel Partners has recently raised its third fund of $155 million for seed and early-stage investments in India. The company has been ramping up its investments and has recently funded an e-commerce startup called Zansaar, along with Tiger Global. Prior to that, it also invested in Bluestone, a portal selling jewellery. Besides e-commerce ventures, Accel has invested in digital media and content services company Trivone Digital Services Pvt Ltd and a Saas-based social customer support startup Freshdesk.
Accel has also joined hands with Singapore-based early-stage VC fund Jungle Ventures and in a co-investment partnership, funded software development firm Sconce Solutions Pvt Ltd.