NEWS23 August 2012

AbsolutData gets $20m investment from Fidelity

Financials North America

INDIA/US— Data analytics services firm AbsolutData is set to receive a $20m investment from venture capital group Fidelity Growth Partners India to boost its delivery capabilities.

AbsolutData says it is looking to capitalise on the shortage of skilled data scientists by working with companies to help them make the most from their big data assets.

McKinsey estimates that in the US alone there is a shortfall of 190,000 analytics experts.

AbsolutData CEO Anil Kaul (pictured) said: “We now serve some of the largest and most reputed retail, consumer goods, technology and hospitality companies, across US, Europe and Asia Pacific. This investment will enable us to further strengthen our ability to service the increasing demand from our global clients.”