Business intelligence and data analysis tools startup vPhrase Analytics this week secured a Series A funding for $2 million from Bharat Innovation Fund and Falcon Edge Capital. The company, which was founded in 2015, has built a product called Phrazor which can gather data, structure facts and apply language to describe it, and finally generate insightful outputs from it.
Phrazor is now deployed across domains – banks, brokerage firms, healthcare, CPG companies, media and entertainment and makes the job of reporting easier by giving a personalized narrative and highlighting areas that need due attention.
Neerav Parekh, founder and CEO at vPhrase says that the company will use its funding towards setting up offices in North America, launching their new product Explorazor and hiring more experienced staff to guide them along.
He told a noted financial daily, "So far, we’ve been working with some large enterprises in India and with some companies in Hong Kong and Singapore. Our plan now is to get into western markets. For that, we will first enter North America, starting with the US and Canada... The funds will also be used to launch our latest product, Explorazor, an independent BI and analytics platform, which provides ready-to-consume insights, with powerful collaboration features."
The Mumbai-based startup counts some of the biggest names from banking, FMCG, retail and media world like HDFC Bank, Motilal Oswal Securities, Unilever, Accenture, consulting companies like Accenture, Wipro, TCS, Viacom18, Sony, Moneycontrol.com as its biggest clients.
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