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Short Take: Niku completes $40 million financing

Niku, a provider of software and business portals that enables businesses to source, manage and deliver professional services using the Internet, announced it has completed a $40 million financing. Participants in the round include new institutional investors Amerindo Investment Advisors, Charter Growth Capital, Essex Investment Management and investment affiliates of Soros Private Equity Partners LLC and strategic partners, CNET (CNET is the publisher of News.com), and TATA Consulting, India's largest IT consulting firm. Previous Niku venture investors J.H. Whitney and Venrock Associates also participated in the financing. Proceeds from the financing will be used for working capital, capital expenditures and other general corporate purposes.

Niku, a provider of software and business portals that enables businesses to source, manage and deliver professional services using the Internet, announced it has completed a $40 million financing. Participants in the round include new institutional investors Amerindo Investment Advisors, Charter Growth Capital, Essex Investment Management and investment affiliates of Soros Private Equity Partners LLC and strategic partners, CNET (CNET is the publisher of News.com), and TATA Consulting, India's largest IT consulting firm. Previous Niku venture investors J.H. Whitney and Venrock Associates also participated in the financing. Proceeds from the financing will be used for working capital, capital expenditures and other general corporate purposes.