VhaYu Technologies Raises $6.5 Million in Series B Funding Led by Menlo Ventures

Los Gatos, CA, May 15, 2003 — VhaYu Technologies, Inc., a leader in real-time tick-data capture, storage and analytics for the financial industry, announced today it has raised a Series B round of $6.5 million led by Menlo Ventures of Palo Alto, California and other accredited investors. Funding will be used to broaden its SUReTick™ product-platform solutions portfolio, expand its sales and marketing program, support a growing customer base with product enhancements and deepen its strategic alliances with financial IT vendors.

"With this new round of funding, we’re well positioned to scale our sales, service, development, marketing and alliance programs,” said Tejpal Chadha, co-founder and CEO at VhaYu. “We will be building on our recent success in adding major customer accounts and alliance partners.”

“VhaYu’s current success has come in a difficult financial IT environment, a testament to the technological quality and linear scalability of their SUReTick platform solution and seasoned leadership," said John Jarve, managing director at Menlo Ventures. "This funding will help the VhaYu management team pursue the many opportunities for their technology in the financial services sector."

VhaYu also announced that it has appointed Mr. Jarve and Arvind Purushotham from Menlo Ventures to its Board of Directors.

Press Release Contact:
Martin Rabkin
martinrabkin, inc.

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