On its home page, Canaan Partners volunteers information about a new managing director. It also advertises a $3 million investment round in iYogi. But what we’re interested in is techTribe’s funding, and on that subject, Canaan didn’t share a lot of specifics. Oh, well – we have managed to piece a few things together.
First: Canaan did indeed lead an investment in techTribe, “India’s career network.” As for any dollar amounts, “VC Circle learns the funding could be a little under $10 million, although this could not be confirmed. When contacted, Rohit Agarwal, the founder of TechTribe, confirmed the investment, but refused to divulge the figures.”
Hmph. Well, Alok Mittal, Managing Director of Canaan Partners in India, was a bit more talkative (on general matters) in a press release. “techTribe has established a strong following for its career networking site,” he said, “and we believe the company is poised for explosive growth as they change the nature of the recruiting market through new social networking and referral models.”
It’s not hard to believe that PR-oriented corporate-speak – looking at the site, it’s clean, professional, and – though I’m not sure how its Indian audience will react to this – techTribe is all in English. (A clue as to why: techTribe is based out of both San Francisco and New Delhi, and many Indians are fluent in both English and Hindi.)
There’s also a lot of information on techTribe’s front page. Maybe, in time, that will include how much money it received from Canaan Partners.
