New Jersey and Gurgaon based data analytics startup Axtria raises $30 million round led by Helion
Axtria, a big data analytics startup which has its HQ in New Jersey and a business unit in Gurgaon has announced a $30 Million series C funding led by Helion Venture Partners. The investment firm has led the round with an investment of $15 million. Axtria provides consulting, outsourcing and technology solutions to help companies make better data-driven decisions in functions like sales, marketing and risk management operations. Silicon Valley venture capitalist ‘Desh’ Deshpande along with existing investors Amar Sawhney, Rick Braddock and Fred Khosravi have participated in this round with Helion. The funding will be used to accelerate hiring, build a sales force, increase marketing, develop products and expand markets including new verticals and geographies. Sanjeev Aggarwal, Co-founder and Senior Managing Director of Helion will join the board of the company.
Founded in 2010, by Jassi Chadha and Navi Chadha, Axtria is a Big Data Analytics company which combines domain knowledge, analytics and technology to help clients make better data-driven decisions. Jassi and Navi were previously co-founders of MarketRx, one of the largest data analytics companies focused on the Life Sciences industry, which was acquired by Cognizant Technology Solutions in 2007.
Axtria is one of the fastest growing companies in its category globally. The company’s cloud-based analytical applications have 10,000+ users. The company has developed proprietary analytical applications like SalesIQ, MarketingIQ and RiskIQ. These applications get embedded in customer platforms, delivering insights at the point of decision.The key solutions areas include Sales Operations Management, Marketing Operations Management, Data and Technology, Customer Operations Management, and Risk Management. The 500+ team at Axtria is focused on verticals such as Life Sciences, Healthcare, Banking, Financial Services, Retail, CPG and High Tech.
Jassi Chadha, Co- founder, Axtria, says “This is a very exciting time for Axtria and our partners. We continue to experience tremendous success and demand for our data analytics solutions from across the industry verticals we operate in. We have thus far been funding the business with private capital. We’ll benefit immensely from the expertise of Sanjeev and other Helion team members in scaling business and managing growth."
Helion has a focus on enterprise technology and is bullish about the large global opportunity presented by Big Data and Analytics. Talking about the funding, Sanjeev Aggarwal of Helion said, “Analytics services is a $20+ billion market with plenty of headroom for growth. Today, the infrastructure, software and analytical capabilities exist to transform the way enterprises drive data driven insights in their business processes. Axtria sits at the cusp of this revolution in analytics, with a unique blend of industry and functional domain, technology, analytics and services capabilities."
Enterprise startups are not in the news often but there are some big companies being built out of India. In the space of big data, MuSigma is a big success story and there are many more startups in the category that are playing in the global arena. Headquartered out of New Jersey, Axtria has been focusing on clients in the US market primarily and is presently working with 60+ clients including some of the largest companies in the LifeSciences, Healthcare, Banking, Financial Services, Retail, CPG and High Tech verticals. The company will continue to focus on these industry verticals and is targeting expansion into Europe in 2016.
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