TheMathCompany, a data analytics and data engineering company, has raised $50 million in a new round of funding led by Brighton Park Capital. Arihant Patni also participated in this round.
Avendus Capital acted as financial advisor and Shardul Amarchand Mangaldas & Company acted as legal advisor to TheMathCompany.
According to the Chicago and Bengaluru-based startup, the fresh capital will be used to accelerate TheMathCompany’s expansion into the US and EU markets and enhance its next-generation proprietary platform, Co.dx, which will deliver value to businesses through analysis increases in speed and scope.
Founded by Sayandeb Banerjee, Aditya Kumbakonam and Anuj Krishna, TheMathCompany employs nearly 1,000 data scientists, data engineers and subject matter experts. The company represents and works with Fortune 500 clients in the CPG, retail, pharmaceutical, automotive, technology and manufacturing industries in the US, UK and EU.
The company also relies on its Co. dx platform, which comes in handy as it has pre-built modules. It can create a custom application for customers and deploy the solution much faster.
The company competes with companies like Fractal Analytics, Tredent, Tiger Analytics and MuSigma.