Soota's Happiest Minds raises $45 mn funding

BANGALORE, INDIA: IT firm Happiest Minds today said it has secured a $45 million Series A investment from Canaan Partners, Intel Capital, Ashok Soota and other founders of the company.

The funding will enable Happiest Minds to deliver the most-advanced technology solutions and services to the market, hiring world class talent, setting up additional infrastructure and accelerating sales and marketing efforts globally, said a press release.

"Canaan Partners and Intel Capital have already demonstrated their ability to add considerable value to Happiest Minds. We are very pleased that they have partnered with us to build India's next-generation IT solutions & services company," said Ashok Soota, executive chairman of Happiest Minds.

In a short span of its operations, Happiest Minds has already gathered substantial business momentum with customer wins in the US, the UK and India.

"The shifting technology landscape provides an excellent launch pad for Happiest Minds," said Vikram Gulati, CEO and managing director of Happiest Minds "Our initial conversations with customers have only strengthened our belief in the route we have chosen."

Alok Mittal, Managing Director of Canaan India, “Happiest Minds has grown its global client base quickly based on a critical understanding of how emerging technologies are transforming businesses worldwide," said.

He added that Canaan recognizes the huge potential of Happiest Minds to become one of the world's foremost next-gen IT solutions and services companies, and we are excited to work alongside the stellar leadership team and the executive chairman Ashok Soota to help accelerate the company's momentum worldwide.

"Enterprises are witnessing spiraling technological and security challenges as collaboration becomes social, as user experience goes mobile, and as computing infrastructure and platforms migrate to the cloud," said Sudheer Kuppam, managing director, Intel Capital Asia Pacific region.

He added that Happiest Minds' cloud, mobility, and security solution architectures can accelerate market adoption of such disruptive technologies, with attendant benefits for the vendor ecosystem.