Talisma raises $31.5 m. VC funding

BANGALORE: Talisma Corporation, the wholly-owned subsidiary of the Bangalore-based

Aditi Technologies, offering end-to-end electronic Customer Relationship

Management (eCRM) solutions and services, has raised $31.5 million in the first

round of venture capital funding. The five venture capitalists, all of whom

belong to the US, are: Oak Investment Partners, Madrona Venture Partners,

Seapoint Ventures, Cedar Grove Investments and the Carlyle Group of Investors.

Speaking about the company, Talisma country manager Rekha M Menon said,

"Since its inception in April this year, Talisma has had a flying start by

able to rope in about 50 high-profile customers in India alone, including

portals and financial companies and about 200 customers in the US, Europe, and

the Asia-Pacific region." Menon, however, candidly admitted that the first

round of funding would take care of the company's investment requirements till

the first half of 2001, but declined to say when it would break even. She said

Talisma's growth rate was about 100 per cent every quarter. "We are

expanding the Bangalore facility to have a campus of our own so as to

accommodate about 1000-odd people, or double the strength we have now.

Similarly, our presence in the US, the Europe, and the Asia-Pacific region will

expand proportionately", she said.

Talisma's software products provide customers e-mail management, e-marketing

and Web-based customer services. The company’s clientele in the US includes

Microsoft, NetGrocer, Snap.com, XOOM.com, Intershop, Element K and RealNetworks.

IN India, ICICI, HDFC, Indusbank and Rediff.com have adopted Talisma's suite of

eCRM modules.