Atul Jalan founded Manthan Systems raises $15 Million

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Bangalore: Manthan Systems, a provider of business intelligence (BI) and analytical solutions for the retail and consumer packaged goods industries, has raised $15 million in series B funding. This venture financing round is by Fidelity International, along with the participation by the existing investors IDG Ventures India and DFJ ePlanet Ventures.

"The funding would help fuel important investments in this direction, particularly in augmenting our sales and delivery presence across key markets, scaling our product organization to match our growth, and also capitalizing on suitable inorganic growth opportunities," said Atul Jalan, Founder and CEO, Manthan Systems.

Founded in 2004, Manthan develops and markets a suite of software products and synergistic services to global retailers enabling them to take data-driven business decisions. The ARC suite comprises of products like merchandising analytics, finance analytics, customer analytics, supplier collaboration and analytics. Jalan said, "Our confidence stems from our products' capabilities and our unique deployment model that delivers on industry leading ROI, and is reinforced by the market traction we are experiencing today. Our charge for global leadership in the retail business intelligence and analytics sector is best summed up as: '8Q21 - Eight Quarters to No. 1.' We value the added experience and competence that the Fidelity team will bring towards the achievement of this objective."

According to the company, its BI platform delivers enterprise-wide analytics capability with superior performance when compared with competitive options. It is also able to offer end-to-end data warehousing and business intelligence capabilities to its customers. Manthan provides retailers with the tools they need to measure performance, pinpoint the source of exceptions and understand the relationships between customer groups, products, promotions and multiple channels. The company also claims that the businesses that have implemented Manthan's products have seen improved margins, customer retention, inventory efficiency, promotion effectiveness and wallet share while having reduced markdowns. The company has also deployed its integrated retail intelligence suite for several global retail and consumer packaged goods customers. "Many leading global retail market players across all segments of retail have adopted our solutions, leading to significant improvements in efficiency and profitability, borne out of the intelligent, data driven decision making made possible by our solutions," said Jalan.

Moreover, as a result of this funding, Raj Dugar, Managing Director at FIL Capital Advisors (India), Fidelity International's private equity advisory company in India, has joined Manthan's board of directors. "We believe Manthan is well positioned to make a significant impact on the global retail landscape as the industry steps up value realization through its usage of business intelligence and analytics," said Dugar.

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