Host Analytics, a cloud-based enterprise performance management (EPM) player, recently announced that it has expanded its Hyderabad R&D center and relocated to new 12,500 square foot facility in HITEC city. It also named Anurag Garg as its new General Manager of Indian Operations. Host Analytics projects India R&D investment of more than USD 10 million over the next three years.
The R&D center in Hyderabad currently employs 80 engineers. The company looks ahead to incremental growth in the center as the company scales its R&D efforts and grows in the region. Host Analytics offers cloud-based financial applications for planning, consolidation, reporting and analytics.
Host Analytics recently completed a record 2012 fueled by revenue growth in excess of 100 percent. The company won transactions at key customers including Essar Oil, WD-40, Sprouts Farmers Market LLC, NEC, and Splunk. It also closed a USD 17 million series D venture capital funding this year from investors Advanced Technology Ventures, Trident Capital, StarVest Partners and Next World Capital.
“I am happy to announce the continued expansion of our India operations and thrilled to welcome Anurag Garg to Host Analytics,” said Dave Kellogg, CEO at Host Analytics, who joined the company in August, 2012 from Salesforce.com where he served as Senior Vice President and General Manager of the Service Cloud. ”Because Host Analytics was founded simultaneously in India and the USA, Hyderabad has always been a strategic location for us. With this announcement, we continue to step-up our commitment to India and to our highly successful distributed R&D strategy.”
“The cloud has revolutionized the way we deliver complex software applications, and it is rapidly becoming the preferred software delivery model for enterprises of all sizes,” said Aravind Balakrishnan, VP of Engineering at Host Analytics. “Hyderabad provides an outstanding talent pool for developing enterprise cloud applications, and I am happy that we are investing today so that we can continue offer the industry’s leading suite of cloud-based applications for enterprise performance management.”
According to Gartner, Inc. Global spending on software as a service (SaaS), or cloud-based applications will grow 17.9 percent in 2012 to USD 14.5 billion. SaaS market growth will remain strong through 2015, when spending on the SaaS is expected to hit USD 22.1 billion.
Newly appointed General Manager of Hyderabad R&D center Anurag Garg will be responsible for both R&D as well as oversight of India-based finance, support, and services. Garg was previously director and head of Polycom R&D in India and brings on board strong international experience having lived and worked in India, the USA, and Germany. Garg began his career in engineering at Siemens and AT&T Bell Labs. He is also a serial entrepreneur who founded and sold three companies.