TheMathCompany, a data analytics and data engineering firm, has raised $50 million in a new round of funding led by Brighton Park Capital. Arihant Patni has also participated in this round.
Avendus Capital served as financial advisor and Shardul Amarchand Mangaldas & Company served as legal counsel to TheMathCompany.
According to the Chicago and Bengaluru-based startup, the fresh capital will be used to accelerate TheMathCompany’s expansion in the US and EU markets, as well as enhance its next-generation, proprietary platform, Co.dx, which drives value for businesses through analytics at speed and scale.
Founded by Sayandeb Banerjee, Aditya Kumbakonam, and Anuj Krishna, TheMathCompany employs nearly 1,000 data scientists, data engineers, and domain experts. The company represents and partners with Fortune 500 customers across the CPG, Retail, Pharma, Automotive, Technology, and Manufacturing industries in the US, UK, and EU.
The company is also banking on its Co. dx platform, which is handy as it has pre-built modules. It can build a custom application for clients, and deliver the solution much faster.
The company competes with the likes of Fractal Analytics, Tredent, Tiger Analytics, and MuSigma.