CustomerXPs set to secure $4 mn from JAFCO

Bangalore-based intelligence software product firm, CustomerXPs Software has raised its first institutional round of funding with series A commitment upto $4 million from JAFCO (Asia) Investment Ltd, the company said in a release.

Ernst & Young acted as financial advisor for this transaction. CustomerXPs, founded by Rivi Varghese, Aditya Lal and Balaji Suranarayana, is into creating real-time enterprise, systems with thinking, learning, inferring capability. The company’s product are initially aimed at global tier 1 banks.

The series A investment will be used to expand company’s R&D, sales, marketing and delivery capabilities. The company also intends to create software-as-a-service version of its offerings.