Axtria, whose expertise lie in big data that helps businesses to make better judgment calls, announced that it has raised $30 million in a Series C founding round. This investment has come as a shot in the arm for the company to further expand its services in newer verticals and grow its customer base. The funding round was led by Helion Ventures which invested through its existing third fund. Helion was accompanied by Silicon Valley based ‘Desh’ Deshpande and Amar Sawhney, Rick Braddock and Fred Khosravi. Through this investment Axtria will have its newest board member, Sanjeev Aggarwal, Co-founder and Senior Managing Director at Helion.
Axtria, which has its headquarters in New Jersey with an office in Gurgaon provides data analytics applications and cloud services. It has a head count of 10,000 individual users from sixty clients. Their solutions span various verticals like pharmaceuticals, banking, healthcare, financial services and high-tech.
Axtria embeds analytics in operations and helps to run businesses in a smoother way. According to the CEO and co-founder Jassi Chadha, with software switch to cloud, data will follow the same path. Hence, through their solutions they’ll help in managing data from business apps for their customers. The new funding that Axtria received will be channelized in designing new products. There are also plans in increasing he head count from 400 to 5,000-10,000. Their upcoming product is a sales analytics service embedded inside Salesforce.com. The CEO also commented that they might raise capital from international sources if they are in need for additional funding in the future.