Eka Software secures fresh funding led by Silver Lake Kraftwerk; eyes more acquisitions

Bangalore-based commodity trading and risk management software firm, Eka Software Solutions Pvt Ltd, has raised fresh funding from technology investment firm Silver Lake Kraftwerk. Existing investor Nexus Venture Partners also participated in the round.

Silver Lake Kraftwerk is picking a minority stake as part of the investment.

Founded in 2001, Eka's core product is a commodity management platform covering trading and position management, physical supply chain, enterprise risk management and compliance and analytics. Eka works across the agriculture, energy and metals and mining sectors with customers that include many large commodity marketers, traders, miners and manufacturers.

"Eka has been growing at 35 per cent CAGR over the last five years. The partnership will further accelerate our growth and help us achieve our long term strategic vision. We are looking to expand our international presence, bring new product offerings at a faster pace, and acquire more companies," said Manav Garg, founder and CEO, Eka.

Earlier the company had raised $10 million from Nexus Venture Partners in 2009 and prior to that way back in 2005, GP Group invested $6 million in the company in two rounds of funding.

Earlier this year, Eka acquired a significant stake in Australia-based MatrixGroup, a commodity handling and management system, for an undisclosed amount. This was its second acquisition after it acquired Canadian transaction and risk management software firm EnCompass Technologies for an undisclosed amount in April this year.

The new investor in the firm Silver Lake Kraftwerk is part of Silver Lake, the global technology investment group with over $20 billion in combined assets under management and committed capital. Silver Lake Kraftwerk focuses on providing growth capital to technology companies with established business models in the energy and resource sectors. This investment in Eka marks the fund's first investment in India and second investment outside of the US.

Bryce Lee, a managing director at Silver Lake Kraftwerk, said, "Greater supply chain complexity, increased commodity exposure and volatility, and rising compliance and regulatory controls are driving demand for commodity management support and solutions. Eka is a leading player in the commodity management software market and is well-positioned for growth with its differentiated technology platform and a reputation for partnering with customers."