IntelligenceNODE Raises Rs 26Cr Led by NEA and Orios Venture Partners

IntelligenceNODE, a big data analytics startup which provides customized solutions to brands and retailers for competitive benchmarking as well as price and merchandising optimization, has raised Rs 26 crore in series A funding. The investment was led by Silicon Valley-based New Enterprise Associates (NEA) and seed investor Orios Venture Partners. It had raised Rs 2 crore in 2014. The company is also planning to secure $15-20 million in a Series-B round in next 3-4 months.

“The next 12 months’ target will be to get to half a million monthly net recurring revenues, which gives us a $6 million annual run rate,” said IntelligenceNODE’s Co-founder & CEO Sanjeev Sularia.

The Mumbai-based startup was launched by Sanjeev Sularia and Yasen Dimitrov, it has 60 clients and includes companies like Indix and Boomerang Commerce as its main competitors.

Another players in this space are Tookitaki which had secured $1 million seed funding led by Jungle Ventures in January and Bengaluru-based Manthan had raised $60 million in series D round led by Temasek and Norwest Venture Partners in February.

AS per IDC report, the traditional analytics business is estimated to be of worth $59.2 billion by 2018. And AT Kearney pegs big data, software and services at $114 billion by 2018.