Moving ever closer to a long proposed IPO, Software solutions developer Virtusa Corporation recently completed its Series D round of financing, securing US $20 million.
The fourth round of funding for Virtusa was led by Focus Ventures, with participation from existing investors Sigma partners, Charles River Ventures and Globespan Capital Partners.
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rnThe fresh infusion increases the total capital investment in the firm to US$ 61 million and gives Virtusa additional room to manoeuvre future growth in its development centres here and in India and to step up its sales and marketing activities.rn
rnAlready Virtusa is preparing to grow its Colombo development centre to 900 IT professionals from just above 600 now. The Chennai and Hydrabad centres will add 500 more IT grads to its existing carder of 1200 IT specialists.
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rnVirtusa Chairman and CEO, Kris Canakeratne said the company revenues grew 74 per cent for the financial year that just ended and has posted eleven consecutive quarters of quarter