Ashok Soota Led Happiest Minds Secures $45M Series A Funding

17th Nov 2011
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Ashok Soota Led Happiest Minds Secures $45M Series A Funding

Happiest Minds - A next-generation IT solutions & services company, founded by veteran entrepreneur and co-founder of Mindtree - Ashok Soota, announced that the company has secured a $45 million Series A investment. The funding was led by Canaan Partners, Intel Capital, IT industry pioneer Ashok Soota and supported by the founders of Happiest Minds. Ashok Soota will also serve as the Executive Chairman of Happiest Minds. The substantial funding will enable Happiest Minds to deliver the most-advanced technology solutions & services to the market, hiring world class talent, setting up additional infrastructure and accelerating sales and marketing efforts globally.Ashok Soota, Executive Chairman of Happiest Minds said, “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.”

The emergence of disruptive technologies – such as cloud computing, social networking, mobile applications, unified communications, and business intelligence & analytics-- has forced organizations to shift their IT strategies and realign their business models. Leveraging these technologies to stay competitive in a global market requires a deep understanding of key business processes and best practices. Happiest Minds provides a comprehensive and integrated suite of Design, Implementation, Testing, Infrastructure Management and Security Services to help global organizations implement the right mix of IT solutions for business growth.

“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.”

“Happiest Minds has grown its global client base quickly based on a critical understanding of how emerging technologies are transforming businesses worldwide,” said Alok Mittal, Managing Director of Canaan India. “ Canaan recognizes the huge potential of Happiest Minds to become one of the world’s foremost next-gen IT solutions & 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.” The commitment from Canaan Partners reinforces the firm’s confidence in the high-growth Indian market and in the entrepreneurial talent that exists in the country.

“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. “Happiest Minds’ cloud, mobility, and security solution architectures can accelerate market adoption of such disruptive technologies, with attendant benefits for the vendor ecosystem.”

In a short span of its operations, Happiest Minds has already gathered substantial business momentum with customer wins in US, UK & India and presence in five locations. For more information visit www.happiestminds.com

 

- Chandan Raj

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