DataRPM raises USD 5.1 million funding from InterWest, others

Data analytics firm DataRPM has raised USD 5.1 million (Rs 31 crore) funding from InterWest Partners and CIT GAP Funds to help grow its operations in the UK and Asia Pacific region, including India.
The DC Metro-headquartered firm has a majority of its employees working out of its R&D centre in Bangalore.
"We plan to use the funds to expand our business in the Asia Pacific region as well as the UK. We are looking at doubling our headcount in Bangalore and sales presence in the US as well," DataRPM co-founder and CEO Sundeep Sanghavi told PTI.
The company has 20 people at its facility in Bangalore, and five employees in the US.

"Most of our efforts would be around hiring technologists eager to invent the future and with specialisations in business intelligence and analytics, Big Data technologies, artificial intelligence and statistics/data mining among other areas," DataRPM co-founder and CTO Gautam Shyamantak said.
This investment definitely gives a boost to DataRPM's endeavor to grow the R&D center, he added.

Last year, it had raised USD 800,000 (Rs 4.87 crore) as part of an angel funding, led by CIT.
Though Sanghavi declined to comment on the shareholding, he said the founders hold the majority stake in the firm.
"There is a huge opportunity in the data analytics market. While estimates range from USD 36 billion to USD 100 billion for the market size, one thing that is clear is that all industries want to leverage data to increase efficiency and grow business," he said.

DataRPM operates across sectors like healthcare, telecom, eCommerce and IT.
"Until now, BI solutions and Big Data have largely ignored the data modeling process. DataRPM uses sophisticated algorithms to automate what is otherwise a heavy manual lift. The combination of affordability and ease-of-use helps clients all sizes to get meaningful insights from their data," he said.
Set up in January 2012, DataRPM was founded by three technology entrepreneurs -- Shyamantak Gautam, Ruban Phukan and Sundeep Sanghavi. They derive experience from firms like IBM, Yahoo, and Arthur Andersen.