Big data analytics solutions provider Nuevora has secured their first round of institutional funding of $2.25 million from Fortisure Ventures. The fund will be used to develop a suite of cloud-based business-processes-as-a-service (BPaaS) analytics applications.

Headquartered in San Ramona, California and operates an analytics center of excellence in India, Nuevora was founded in 2005 by Phani Nagarjuna. The company is a big data solutions provider that helps leading organizations achieve positive, high-impact business outcomes through the delivery of continuous and context-sensitive predictive insights. It works with some of the leading corporations in retail, financial services, insurance, high-technology, travel services, and other industries. Nuevora's vision is to help shape the BPaaS market space and be a leader in delivery of cloud-based advanced business analytics apps for targeted business problems.

"Just as software-as-a-service (SaaS) disrupted the traditional enterprise software business models over the past decade, Nuevora envisions a new wave of business processes-as-a-service (BPaaS) applications taking root in major corporations that drive smarter decisions through real-time and continuous analytics. It's clearly becoming an apps-driven world, whether at the consumer level or within the corporate and we intend to be among the leaders in the new BPaaS market space. This new funding will be instrumental in helping us execute that strategy," says Phani Nagarjuna, Founder & CEO, Nuevora. Nuevora develops business analytics solutions for major corporations in retail, financial services, insurance, high technology, and travel services markets. In doing so over the past few years, the company has built a proven analytics platform and targeted analytics solutions that can be delivered as Business-Processes-as-a-Service (BPaaS) via the cloud.

"We were drawn to Nuevora by Phani's knowledge of the business analytics space and our conviction that analytics provides tangible value to companies by helping them understand their customers better," says Mani Subramanian, Founder & CEO, Fortisure Ventures.