IntelligenceNODE, a big analytic startup providing customized solutions to retailers and brands for competitive bench marking has secured Rs 26 crore in series A fund round. This has helped them in merchandising and price optimization. This is not big deal and any newcomer can be offered this advice to anyone anywhere.
The investment was led by Silicon Valley-based New Enterprise Associates and their seed investing Orios Venture Partner. It has earlier secured Rs 2 crore in 2014. The company is planning to secure $15-20 million in their Series B round in forthcoming 3-4 months. This will be of immense help for the users and will be providing them high quality retail and brand offering services as well.
“The next 12 months” target will be getting their half a million monthly net recurring revenues, which gives us a $6 million annual run rate,” said IntelligenceNODE’s Co-founder & CEO Sanjeev Sularia.
This Mumbai based startup was unveiled by Yasen Dimitrov and Sanjeev Sularia. This has 60 clients and has companies like Indix and Boomerang Commerce as their main competitors. Another players in spaces are Tookitaki securing $1 million seed funding led by their Jungle ventures in January and Bengaluru-based Manthan securing $60 million in series D round led by Temasek and Norwest Venture Partners in February.
The secured funds will be used to enhance their present infrastructure and employee strength. They need to mention their inputs for the help and shall make expansion plans accordingly. The users will be availing their desired inputs again and again and will be using for this task. Just go through IntelligenceNODE history and product details as well and sell it.
According to IDC report, the traditional analytics business will be estimating to worth $59.2 billion by 2018. AT Kearney pegs big data, service and software at $114 billion by 2018.