Bangalore: Bangalore based Manthan Systems, a provider of Business Intelligence (BI) and Analytics solutions for the retail and consumer packaged goods industries, have secured $15 million in series C round of funding from Norwest Venture Partners. As a result of this funding, Mohan Kumar, Executive Director at NVP, has joined the company’s board of directors. Earlier the company has raised $10 million in series A round of funding from IDG Ventures and DFJ ePlanet Ventures, and $15 million in series B round of funding led by Fidelity International along with IDG Ventures and DFJ ePlanet Ventures.

Founded in 2004, Manthan Systems creates cutting edge analytics solutions for global retail and CPG organizations. Its solutions under the ARC banner encourages enterprise-wide adoption of BI and provide a significant edge to a retailer’s analytical capability and maturity. Manthan has over 70 retailers across 20 countries, which includes McDonald’s, Crocs, Ecco, Love’s, Ashley Stewart, and several others.

“Our deep focus on retail analytics, business intelligence and the customer is what has helped us create some of the most innovative products in the BI and analytics space,” says Atul Jalan, Founder and CEO, Manthan Systems.

Manthan plans to use the fund to help retailers gain a distinct advantage over the competition. The company is looking forward to launch several new products as well as acquire organizations that share its philosophy of innovation in the coming one year. It is also enabling mobility for its products including ARC, which is already iPad enabled.

Mohan Kumar, Executive Director, Norwest Venture Partners Inida, says, “Manthan Systems has done an incredible job of building products that produce significant results for its clients. The company has focused on retail and CGP customers, resulting in impressive growth and increased market share. Backing the company reinforces our belief in the next generation business analytics sector as shown through NVP’s investments in such companies as 1010 data and The Retail Equation.”

Norwest Venture Partners is a global venture and growth equity investment firm that manages more than $3.7 billion in capital. Headquartered in Palo Alto, it has subsidiaries in Mumbai and Bangalore in India and Herzelia in Israel. It makes early to late stage venture and growth equity investments across a wide range of sectors including IT, business services, financial services, infrastructure, technology enabled services and consumer.