Seva Search Series A Oversubscribed; Raises $1.3 Million
Seva Search, a Metro D.C.-based local search company founded by Gurpreet Singh, Manpreet Singh, and Amandeep Bakshi, announced today that it has closed its first round of outside funding. Backing for the company comes from prominent investors, successful serial entrepreneurs, and top angels from North America, South America, Asia, and Europe.
Seva Search will use the proceeds to improve and market its first product, Seva Call, a local search engine that seamlessly connects consumers with local businesses in near real-time. Until now, consumers have had to spend countless hours researching and calling several businesses trying to find the one that meets their individual requirements. Such requirements typically include location, availability, specific need, cost, and above all quality. "Seva Call is disruptive yet simple to use, and it provides instantaneous value to both the consumer and local businesses," said Jonathon Perrelli, a board member and investor from Fortify.vc.
Seva Call matches consumers and local businesses based on a variety of signals including online ratings and reviews, social reputation and interaction, call analytics, and other forms of consumer and business feedback. As a result, consumers receive phone calls from qualified businesses in near real-time. Andrew Bachman, an advisor and investor said "the Seva Call platform is the most interactive form of B2C advertising on the planet. I am excited to watch it compete in the direct response space and capture a global user-base."
Series A investors include:
Fortify.vc, seed and early stage venture capital fund; Jonathon Perrelli, Seva Search Board of Directors
Ed Mathias, Managing Director, The Carlyle Group; involved in venture capital business for three decades
Tim Sykes, CEO, Investimonials; American speculator, investor, and hedge fund manager; Ranked #1 out of 50,000+ traders on Covestor
Jay Virdy, CEO and Co-Founder, Summize (acquired by Twitter) and LocalEyes (acquired by AOL)
David Eisner, Former CEO & President, TheMarkets.com
Andrew Bachman, President and Co-Founder, Tatto Media (acquired by Ozura World, $60 million)
Jigar Shah, Founder, SunEdison (acquired by MEMC Electronic Materials, ~$323 million); CEO, Carbon War Room
Krishna Subramanian, Co-Founder Blue Lithium (acquired by Yahoo, $300 million) and MobClix (acquired by Velti)
Vishal Gurbaxani, Co-Founder, MobClix (acquired by Velti, ~$50+ million)
Arjun Dev Arora, CEO and Founder, ReTargeter
Saket Saurabh, Co-Founder, MobSmith
Paul Silber, Founding Member, Blu Venture Investors; CEO, In Vitro Technologies
David Krauskopf, Founding Member, Blu Venture Investors; Former General Manager, Apple Russia
John Lapides, CEO, Shadow Point Capital; CEO, Snow Valley; Founding Partner, Inphonic; EIR, Smith School (UMD)
Roger Richter, President, Pacific Asset Management; Seed Investor, Local Eyes and Summize
Glen Hellman, Principal, Driven Forward; Former CEO, ikimbo; Former President, Proxy Governance; Former CEO, Intellipark; Former VP and General Manager, 3Com
John Cammack, Managing Partner, Cammack Associates
Badder Alghanim, Alghanim Family of Kuwait, Al-Awama Industries
James and David Dingman, Managing Director and Management of Shipston Group respectively
Alex Edmans, Award-winning Wharton finance professor; PhD Financial Economics, MIT; Fulbright Scholar, MIT
John Villa, Partner, Williams & Connolly LLP; National Law Journal - "100 Most Influential Lawyers in America"
The founders are beyond committed to Seva Search as they invested significant capital alongside the Series A.
About Seva Search, Inc.:
Seva Search, Inc. based in Potomac, Maryland focuses on the hyper local search market. Seva Search will soon be debuting its first product, Seva Call, a local search engine that seamlessly connects consumers with local businesses in near real-time via the Seva Call proprietary platform. Consumers save time while Seva Call finds high quality businesses that can meet their needs at their convenience. Local businesses receive detailed consumer requests leading to quality matches. In September 2011, Seva Search, Inc. raised $1.3 million from investors, entrepreneurs, and angels.
Fortify.vc is a seed and early stage venture fund founded and managed by serial entrepreneurs and successful angel investors. As active investors and the creators of the 'Distilled Intelligence' investment competition pitch events, the Fortify.vc team is committed to energizing startups and investors. The fund invests in talent-rich technology markets with a focus on product companies in cyber-security, mobile commerce, social platforms, and enterprise software. The "Founders Funding Founders" theme reflects their mission to serve as a founder-friendly fund. Fortify.vc looks for great teams with defensible market positions, in high-growth or huge sectors. The partners and mentors actively participate with portfolio companies to develop sound strategies, grow intelligently, and facilitate follow-on funding and successful exits.