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December 19, 2011

Deal Alert- Accel Partners invests in Trivone Digital

From the Press Release:

Accel Partners has completed Series A investment in Trivone Digital a Bangalore-based new age digital media and content company.

The funds will be utilised by Trivone towards meeting its working capital requirements as well as pushing growth through the inorganic route in the months ahead.

“We are delighted to have Accel Partners on board and look forward to working closely with them as we chart out a growth path for ourselves. We believe that the expertise gathered by Accel Partners over 25 years of building more than 300 successful enterprises will hold us in good stead,” said Subu Subramanyan, Founder and CEO of Trivone Digital Services.

Trivone’s strategy is the ability to create world class content, which will enable it to build Digital media properties and offer managed services to clients. Currently the company offers services by way of creating, sourcing and packaging content for online delivery to a wide cross-section of large Enterprise customers.

“Trivone, given the media and Content expertise of the team, is well set to build a best in class Digital Media Company”, said Mahendran Balachandran, Partner at Accel India.

Trivone is promoted by veteran journalist L. ‘Subu’ Subramanyan and it manages three premier IT Media Properties – www.techtree.com, www.channeltimes.com and www.cxotoday.com. The company plans to build several Digital media properties in specific verticals and increase its presence in the Digital Media landscape in India.

Earlier in the year Trivone had acquired the management rights for the three IT portals, viz., Techtree.com, ChannelTimes.com and CXOToday.com from UTV.
Explaining the rationale for pure play digital media, Subu said, "Internet penetration in India is at the cusp of rapid growth. We see a tremendous opportunity for these properties to grow, both online and mobile".

About Accel

Founded in 1983, Accel Partners has a long history of partnering with outstanding entrepreneurs and management teams to build world-class businesses. Accel today invests globally using dedicated teams and market-specific strategies for local geographies, with offices in Palo Alto, California, New York City, London and Bangalore, as well as in China via its partnership with IDG-Accel.

Accel has helped entrepreneurs build over 300 successful companies, many of which have defined their categories, including 99designs, Actuate, AdMob, Agile Software, Alfresco, Angry Birds (Rovio), Atlassian, BBN, Bonobos, Braintree, Brightcove, Cloudera, ComScore, Diapers.com (Quidsi), Dropbox, Etsy, Facebook, Fusion-IO, Gameforge, GlamMedia, Groupon, Imperva, Infinera, Interwoven, IronPlanet, JBoss, Kayak, Lookout, Macromedia, metroPCS, MoPub, OPOWER, Polycom/PictureTel, Playfish, Portal Software, QlikTech,Rapt, Real Networks, Redback, Responsys, Riverbed, Spotify, Squarespace, SunRun, Trulia, UUNet, Veritas, Walmart.com, Webroot, Wonga, XenSource and Zimbra. In India, Accel has made investments in companies such as Babyoye, enStage, Exclusively.in, Flipkart, HealthcareMagic, Kaatizone, Letsbuy, Myntra, MuSigma, Perfint, Virident, QwikCilver, Deeksha, and Vinculum.

For more information, please visit the Accel Partners web site at www.accel.com find us on Facebook at www.facebook.com/accel.

About Trivone Digital Services

Trivone Digital Services Pvt. Ltd. is India’s leading digital media and content services company that runs some of the country's top IT portals including techtree.com, India’s largest consumer technology portal, CXOToday.com, an exclusive portal for decision makers and Channeltimes.com, the information vehicle for IT channel partners. The company also undertakes Managed Services including creating, editing, sourcing and packaging content for delivery online and complete outsourcing of all Digital Content assets for a wide variety of clients.

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