Host Analytics to expand R&D operations in Hyd

The co has earmarked $10 mn for expanding R&D activities over next 3 years

Host Analytics, a cloud-based financial applications for planning, consolidation, reporting and analytics, is planning to triple its research and development (R&D) headcount at its Hyderabad centre in the next three years.

The Silicon Valley-based company, which relocated its Hyderabad centre to a new 12,500-sft building in Hitec City, currently employs 80 professional here.

The company has earmarked $10 million for expanding R&D activities in Hyderabad over the next three years, Dave Kellogg, chief executive officer of Host Analytics, told mediapersons here on Monday.

Quoting a recent Gartner report, Aravind Balakrishnan, vice-president of Host Analytics, said that the SaaS (software-as-a-service) market growth will remain strong in 2015, while spending on SaaS was expected to touch $22.1 billion by then. “The SaaS penetration level is very low in India. We expect a good growth in this segment in the coming years,” he added.

Host Analytics currently has more than 300 customers globally, including Essar Oil and Splunk, for cloud-services. “We have seen a 100 per cent growth in revenues last year. With the expansion in our R&D centre in Hyderabad, we expect an incremental growth next year,” he said.

Since its inception, the company has raised four rounds of funding from venture capital firms and individual investors, including a $17-million, Series-D venture capital funding last December.