Bengaluru-based big data analytics startup, Manthan has raised USD 60 million in series D round led by Temasek and Norwest Venture Partners. Including this round, the firm has raised a total capital of USD 80 million till date. The new funding will be used to accelerate its focus on consumerization of technology. The capital will also be used to accelerate the SaaS adoption of its product portfolio, for product development and to expand its marketing footprint globally.
Launched in 2004 by Atul Jalan, Manthan provides business intelligence and big data solutions for enterprises. With over 170 customers in 21 countries, Manthan expects to report a revenue growth of 70 percent in the year ending March.
IDC forecasts the traditional analytics business to be worth USD 59.2 billion by 2018. And A T Kearney pegs big data, software and services at USD 114 billion by 2018.
Another player in this space, Tookitaki, had recently secured USD 1 million in seed funding led by Jungle Ventures with participation from Rebright Partners and Blume Ventures. Data analytics startup Indus Insights had secured Series A funding from Hive India.