Helion Venture Partners Leads 2nd Round of Investment
SAN MATEO, Calif.--(Business Wire)--
Gridstone Research, a Financial Information and Search company,
today announced the closing of a Series B funding of $10 million. The
investment was led by Helion Venture Partners with existing investors
Charles River Ventures and Maverick Capital also participating.
Gridstone sells a research platform for financial analysts that
combines deep financial data and powerful search technology. The funds
raised will be used in further product development and to expand the
sales force.
"This gives us the fuel to continue on our mission of making
company research easier and a lot more productive", said Basab
Pradhan, CEO, Gridstone Research. "We think that analysts who research
public companies today are having to attack the information overload
problem with toothpicks instead of powertools. There is a better way,
using search and semantic technologies. Our research platform is just
such a powertool."
The company sells its research platform to buy-side investment
managers. It already has several leading funds like Alliance
Bernstein, Oppenheimer Funds and Nomura Asset Management as its
clients.
"Gridstone Research is one of the most promising vertical search
companies out there" said Ashish Gupta, Managing Director, Helion
Ventures Pvt. Ltd. "By applying search and related technologies to the
area of finance and company research, Gridstone has created a powerful
value proposition for investment managers. We are delighted to be
leading this round and to be part of their mission."
About Gridstone:
Gridstone Research is a powerful and flexible research platform
that helps Investment Analysts make better investment decisions,
faster. Gridstone is headquartered in San Mateo, California, with
offices in Mumbai, India.
For more information, please visit www.gridstoneresearch.com.
About Helion Venture Partners:
Helion Ventures Partners is a $350 Million India-focused, stage
independent venture fund, investing in technology-powered and consumer
service businesses in sectors like Outsourcing, Internet, Mobile,
Technology Products, Retail Services, Education and Financial
Services. The fund's investors are well-respected Global institutions
including Ivy League endowment funds and highly-successful Internet
pioneering entrepreneurs. The fund and its portfolio companies are
advised by an experienced and industry renowned team of professionals
based in India which include Sanjeev Aggarwal, Ashish Gupta, Kanwaljit
Singh and Rahul Chandra.
For more information, please visit www.helionvc.com.
Gridstone Research
Sajjad Jaffer, 650-349-0400
Marketing Director
Sajjad.jaffer@gridstoneresearch.com
or
Helion Ventures Pvt. Ltd.
Kanwaljit Singh, +91 80 4018 3333
Managing Director
kanwal@helionvc.com
or
Genesis Burson-Marsteller
Shiwani Varma, +91 80 2558 9122 ext. 111
Consulting Associate
shiwani.varma@bm.com
Copyright Business Wire 2008
