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Fremont: New Jersey-based Opera Solutions, a company that is in the business of 'Big Data' analytics, has raised $84 million in series A round of funding from Silver Lake Sumeru, in participation from Accel-KKR, Invus Financial Advisors, JGE Capital Management and Tola Capital. According to the Wall Street Journal, the round values the company at half a billion dollars.
Opera Solutions was founded in 2004 by CEO Arnab Gupta, with 10 people. Today, the company employees more than 600 employees from 30 plus countries and has offices in North America, Europe and Asia. The firm uses a combination of analytics, technology, large-scale data management and human expertise to serve large and mid-sized clients in a number of sectors that includes financial services, investment firms, consumer goods, retail, manufacturing, distribution and government.
Arnab Gupta, Founder and CEO of Opera Solutions said that the company's core value lies in turning Big Data into Small Data through the use of advanced machine intelligence to extract valuable signals and patterns from massive data flows and turn them into a stream of analytically enriched guidance brought to the front lines of their customers' businesses.
Gupta founded and sold a number of companies including Mitchell Madison Group and Zeborg. He began his career at McKinsey & Co., where he was a partner. Since 2004, he has worked with the Bill & Melinda Gates Foundation on its India HIV-AIDS initiatives. Gupta did his MBA from the Harvard Business School and is the author of a number of research publications.
"As organizations adopt outcomes-oriented predictive analytics solutions, Opera stands out as being uniquely poised for growth. We believe customers will need and invest in analytics applications that can generate specific business process recommendations," said John Brennan, Managing Director, Silver Lake Sumeru.
Silver Lake Sumeru is a private investment firm in middle-market and growth technology companies. The portfolio of the company includes leading technology companies such as AVI-SPL, i2, Locaweb, Mobile Messenger, Power-One, Primesense, SMART Modular and many others.
Ben Bisconti, Managing Director, Accel-KKR, said, "With 160 scientists, Opera has built one of the leading advanced analytics capabilities in the world. Their longstanding relationships with leading global companies in a range of sectors attest to this ability."
Accel-KKR is a technology-focused private equity firm that invests primarily in middle-market technology businesses that are well positioned for top-line and bottom-line growth. They have a particular focus on investments in founder-owned and closely-held private companies, divisional buyouts of larger companies and going-private transactions.
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