NEWS16 February 2012
INDIA— Business analytics provider Manthan Systems has secured a further $15m in funding from Norwest Venture Partners.
The Bangalore-based firm makes analytics software for retail and consumer goods clients. Its retail performance management solutions have been used by firms such as McDonald’s, Crocs, Ecco and Game Group.
Manthan said that it plans to launch new products in other markets in the coming year, and to acquire businesses “that share Manthan’s philosophy of innovation”.
The company was founded in 2004 and has in the past benefited from investments from DFJ ePlanet Ventures, IDG Ventures India and Fidelity International, including a $15m funding round in 2009.
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