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Manthan gets $15m funds from Norwest Venture

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CIOL Bureau
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BANGALORE, INDIA: Manthan Systems, a provider of Business Intelligence (BI) and Analytics solutions for the retail and consumer packaged goods (CPG) industries, on Wednesday announced that it has secured $15 million in Series C funding from Norwest Venture Partners (NVP).

The company plans to use this round of funding to help retailers gain a distinct advantage over the competition. In the next year, Manthan is looking to launch several new products as well as acquire organisations that share Manthan's philosophy of innovation.

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“Our deep focus on retail analytics, business intelligence and the customer is what has helped us create some of the most innovative products in the BI and analytics space. In addition, we have always been heedful of the fact that the sophisticated analytics we create need to be easy to adopt, deploy and use,” said Atul Jalan, founder & CEO, Manthan Systems.

Additionally, efforts are underway to ensure that the next few products in production are as innovative and powerful as the company’s current suite of offerings. The intent is to launch ground-breaking products in adjacent markets and leverage the power of cloud computing and SaaS.

Manthan is also enabling mobility for all its products, including ARC, which is already iPad enabled.