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.