Consim Info Pvt Ltd. (f.k.a. BharatMatrimony), an India-based provider of online matrimonial services, has raised $11.75 million in Series B funding. Mayfield led the deal, and was joined by return backers Canaan Partners and Yahoo. The company had raised an $8.6 million first round in 2006.
Consim Info Pvt. Ltd, formerly known as BharatMatrimony Group, today announced that it has closed its second round of investment of USD $ 11.75 million led by Mayfield Fund and participation from existing investors, Yahoo! and Canaan Partners. Veda Corporate advisor acted as the strategic advisor for the transaction. The company had earlier raised an initial funding of USD $ 8.65 million in 2006 from Yahoo! and Canaan Partners.
Following this development, Nikhil Khattau will join the Board of Consim as Director and Navin Chaddha of Mayfield Fund will be an observer on the Board.
Nikhil Khattau, Mayfield Fund said, “We are excited to participate in the tremendous growth that Consim Info has achieved in their Matrimony and Classified businesses. We believe
Greg Mrva, Vice President, Corporate Development, Yahoo! Inc., said, “Yahoo! is committed to
Alok Mittal, Managing Director, Canaan Partners,
Murugavel Janakiraman, Founder & CEO, Consim Info, said, “Receiving investments from global players like Mayfield Fund, Yahoo!, and Canaan Partners is a recognition to our company. We plan to leverage this fund to expand our matrimony business in the international markets and to strengthen our other classifieds offerings. We believe that the global knowledge and experience of our investors will help us scale our business strategically.”
The company plans to take the online matrimony business to international markets with the launch of country specific & religion based matrimony sites. This funding will help the company to set up operations in US, UK and other countries and also to promote its other verticals.
The group has over 15 million people registered with various portals of the group including BharatMatrimony.com, Clickjobs.com, IndiaProperty.com, IndiaAutomobile.com etc.
About Mayfield Fund.
Over the past 38 years, Mayfield Fund has been at the forefront of investing in emerging businesses that have grown into industry leaders. Mayfield Fund invests in the U.S., China and India and currently has $2.7 billion under management. It has invested in over 480 companies of which 105 have had initial public offerings and another 160 have been acquired. Some of Mayfield past impact investments include Compaq, Amgen, SGI, 3COM, Sandisk, Citrix, Cypress Semiconductor, Intuitive Surgical, Web Methods, Tibco, 3PAR and LSI Logic.
Mayfield Fund's India-based team is currently investing in the infrastructure ancillaries and services, manufacturing, consumer services, technology and technology-enabled services sectors.
About Yahoo! Inc.
Yahoo! Inc. is a leading global Internet brand and one of the most trafficked Internet destinations worldwide. Yahoo! is focused on powering its communities of users, advertisers, publishers, and developers by creating indispensable experiences built on trust. Yahoo! is headquartered in Sunnyvale, California. For more information, visit pressroom.yahoo.com (http://pressroom.yahoo.com/) or the company's blog, Yodel Anecdotal (http://yodel.yahoo.com/).
About Canaan Partners
Canaan Partners is an early stage venture investor. The firm catalyzes the development of innovative technology and healthcare companies to build next-generation market leaders. Founded in 1987, Canaan Partners has $2.4 billion capital
under management and has invested in more than 230 companies, completed 58 mergers and acquisitions, and brought over 50 companies public. Canaan invests in Internet and consumer technology, communications, semiconductor and energy, enterprise software and services, biotechnology, and medtech. Canaan was an early investor in DoubleClick (DCLK), CommerceOne (CMRC), Copper Mountain Networks (CMTN), Immunicon (IMMC), ONI Systems (ONIS), Dexcom (DXCM) and Combinatorx (CRXX), along with dozens of other market-leading companies. Canaan has offices in
Menlo Park, California; Rowayton, Connecticut; and Herzliya Pituach, Israel. For more information visit: www.canaan.com
About Consim Info Pvt. Ltd:
Formerly known as BharatMatrimony Group, Consim Info Pvt. Ltd is India's leading Internet Company. The company, established in 1997, has developed expertise and successful business models to provide an array of world-class services including Matrimony, Property, Automobile, Jobs, Listings and SMS services. With over 15 million users worldwide, the group has established itself as an undisputed leader in the Indian Internet space.