NEWS7 May 2010

MarketRx co-founders embark on new analytics venture, Axtria

Data analytics North America

US— MarketRx co-founder Jaswinder Chadha is back in the analytics business with Axtria, a new company supported by venture capital and private investors, that aims to provide analytics technology and consultancy for sales and marketing management.

Unlike Chadha’s last business, which specialised in MR and analytics services and tools for the pharmaceutical and biotech industries, Axtria aims to work with clients in consumer goods, financial, technology, retail, travel and hospitality markets.

Axtria recently closed its first financing round, securing $2.5m in funding which it plans to use to develop its business analytics software products and to expand its US-based operations into India.

Investors include Sequoia Capital India and businessmen Richard Braddock, Sandeep Tyagi and Amarpreet Sawhney, the former chairman of MarketRx.

Chadha (pictured) was president of CEO of MarketRX when it was sold to IT and BPO services firm Cognizant for $135m in 2007. Chadha’s Axtria co-founder, Navdeep Chadha, also co-founded MarketRx and that company too was backed by Sequoia Capital India.

Sequoia MD Sandeep Singhal said: “Axtria is well positioned to be a leader in the enterprise analytics industry. We are excited to yet again back Jaswinder and Navdeep. We have confidence in their experience and abilities to make this a success.”