India: Brighton Park leads $50m funding in data analytics startup TheMathCompany

Photo: Mint

Global data analytics and data engineering firm TheMathCompany has secured $50 million in fresh funding led by Brighton Park Capital, an investment firm that specialises in software, healthcare, and tech-enabled services businesses.

Existing investor, Arihant Patni, also participated in the financing, TheMathCompany said in a statement on Thursday.

The minority investment will accelerate TheMathCompany’s expansion in the US and EU markets, as well as enhance its next-generation, proprietary platform, Co.dx, the statement added.

Founded by Sayandeb Banerjee, Aditya Kumbakonam, and Anuj Krishna, TheMathCompany implements data science and engineering initiatives across business functions, including marketing, supply chain, R&D, and finance.

It employs nearly 1,000 data scientists, data engineers, and domain experts, and works with customers across the CPG, retail, pharma, automotive, technology, and manufacturing industries in the US, UK, and EU.

“TheMathCompany will continue to invest heavily in Co.dx – a significant and meaningful differentiator in our journey to help enterprises scale and solve problems faster,” said Anuj Krishna, chief product officer, TheMathCompany.

The startup had raised an undisclosed amount of funding in a Series A round from entrepreneur and venture capitalist Arihant Patni in May 2019.

Avendus Capital served as financial advisor and Shardul Amarchand Mangaldas & Company served as legal counsel to TheMathCompany. Bharucha & Partners and Paul Weiss served as legal counsel to Brighton Park Capital.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.