Funds for Ambitious Axtria

Big data firm Axtria has raised $30m in a series C round of funding and says it will use the cash to expand its services into new verticals and geographies, and grow its customer base.

The round was led by Helion Venture Partners and included participation from Silicon Valley-based 'Desh' Deshpande and three existing backers, Helion co-founder and senior MD Sanjeev Aggarwal joins Axtria's board.

The company is headquartered in New Jersey, USA with an office in Gurgaon, India and provides consulting, outsourcing and cloud-based technology solutions focused on data in sales, marketing and risk management.

Axtria CEO Jassi Chadha, who co-founded the company in 2010, told www.techcrunch.com the new funding would go towards developing new products, especially for IoT applications, and to help grow the firm's headcount from 400 people to as many as five or ten thousand, including many sales and marketing staff for global and new sector expansion. Chadha, who says a new product providing analytics within Salesforce will arrive shortly, comments: 'It's early days for data analytics companies, but we have an opportunity to build a $1 billion revenue business'.

Web site: www.axtria.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.