IntelligenceNODE, a big-data analytics startup, has raised Rs 26 crore in a Series-A funding led by Silicon Valley-based New Enterprise Associates (NEA) and seed investor Orios Venture Partners.
The Mumbai-based startup, founded by Sanjeev Sularia and Yasen Dimitrov, provides customised solutions to brands and retailers for competitive benchmarking as well as price and merchandising optimisation. It had raised Rs 2 crore in 2014.
"The next 12 months' target will be to get to half a million monthly net recurring revenues, which gives us a $6 mil lion annual run rate," said Sularia, IntelligenceNODE's 32-yearold chief executive who previously served as the finance chief of e-tailing startup Exclusively.in.
While the company's current revenue is evenly split between India and overseas, it expects the share of foreign revenue to increase to 80% in the next 12 months. IntelligenceNODE plans to hit the road again in three to four months to raise $15-20 million in a Series-B round. It has 60 clients and counts companies like Indix and Boomerang Commerce as its main competitors. NEA, which raised $3.1 billion earlier this year, has been looking to step up investments in India.
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