Manthan Systems can clock $18 million in revenue

BANGALORE: Manthan Systems, a provider of Business Intelligence (BI) and Analytics solutions for the retail and consumer goods industries announced it plans to expand substantially over the next two years by entering into new markets and aims to become the No1 player in the Retail BI space globally. The Company is physically present in all Continents and has its products deployed in 54 companies located in 14 countries. 

As per a press release, Manthan had recently secured a Series B funding of $15 million, led by Fidelity International. Participation by existing investors IDG Ventures India and DFJ ePlanet Ventures in this recent round of funding is an endorsement of Manthan’s impressive growth and potential, and the new paradigm Manthan is creating in Retail analytics.

“Our creations today add value to retailers in more than a dozen countries worldwide including the US, UK, France, Italy, Philippines, Indonesia, Brazil and Australia. And has been generating substantial interest among larger retail groups in India that are evolving into BI led solutions. We are planning to strengthen our position in newer markets like Latin America, Eastern Europe, Baltic States & South East Asia in the next one year”, said Mr. Atul Jalan, Founder & CEO – Manthan Systems.

“Our products occupy a unique space in the BI market now acknowledged by leading market analysts as ‘Retail BI’, a new breed of solutions that deliver groundbreaking value to modern retailers. And over the past few years, our products have fundamentally changed they way some of the world’s leading retailers adopt and use BI and analytics”, said Jalan.

“The entire Indian Innovation-led industry caught the flu when the global economy sneezed. While Manthan, being Invention-led, grew substantially at around 120 per cent and added 28 new customers to its roster and projected to clock around $18million in revenue. During these times, more and more retailers caught in the grip of the slowdown were looking at solutions that would help them generate greater control and better value”, said Jalan.

“Our organic growth has been exceptional over the years and now we are trying to fuel this growth inorganically by collaborating and acquiring organizations in the retail BI space that share a philosophy of invention. Organizations which we believe, will help us leverage our abilities to create better products and reach a wider audience worldwide”, he added.

Manthan’s clients include over 40 leading names in the retail and CPG businesses like GAME Group Plc., Robinsons, Ripley, Woolworth, Novartis, Channel Islands’ Co-operative, Haggen, Haggar, Prada, McDonald’s, Abenson,

SM Retail Group to name a few.