San Ramon, Calif.-based Nuevora Inc., a provider of bid data analytics technology, has raised its first round of institutional funding. Nuevora did not give specifics about the round, but said that San Francisco-based Fortisure Ventures provided the financing.
Big Data analytics solutions provider Nuevora, Inc., announced today that it has secured its first round of institutional funding and will use the proceeds to develop a suite of cloud-based business-processes-as-a-service (BPaaS) analytics applications. Fortisure Ventures of San Francisco provided the funding.
Nuevora develops business analytics solutions for major corporations in retail, financial services, insurance, high technology, and travel services markets. In doing so over the past few years, the company has built a proven analytics platform and targeted analytics solutions that can be delivered as Business-Processes-as-a-Service (BPaaS) via the cloud.
“Just as software-as-a-service (SaaS) disrupted the traditional enterprise software business models over the past decade, Nuevora envisions a new wave of business processes-as-a-service (BPaaS) applications taking root in major corporations that drive smarter decisions through real-time and continuous analytics,” said Phani Nagarjuna, founder & CEO of Nuevora. “It’s clearly becoming an apps-driven world, whether at the consumer level or within the corporates and we intend to be among the leaders in the new BPaaS market space. This new funding will be instrumental in helping us execute that strategy.”
Phani noted that innovative BPaaS business models will combine the benefits of globalization inherent in the KPO models with those of scalability available through SaaS. This new non-linear business model will create a new category of business service apps that enable smarter business decisions and deliver operational excellence across an organization by:
providing advanced business analytics capabilities consisting of targeted apps and human talent, and;
institutionalizing continuous, context-sensitive, and near real-time predictive insights across different stages of business process execution.
“We were drawn to Nuevora by Phani’s knowledge of the business analytics space and our conviction that analytics provides tangible value to companies by helping them understand their customers better,” said Mani Subramanian, founder & CEO of Fortisure Ventures. “We are confident that Phani and his team, through his leadership and the SaaS/cloud based analytics solutions they are developing, will help Nuevora provide the right value proposition to companies in their target industries.”
A software and technology industry executive, Phani founded Nuevora after serving as EVP of Products and Strategy of OneCommand, a leading Software-as-a-Service cross-channel marketing automation solutions company. Prior to this, Phani was head of worldwide sales, marketing and corporate strategy for Caritor (Caritor later acquired Keane, became a $1B global services firm and merged with NTT DATA in December 2010). Before this, Phani held various product marketing and customer strategy positions at Siebel Systems.
About Fortisure Ventures
Fortisure Ventures was founded by Mani Subramanian in 2011 as a family-owned firm to seek and guide entrepreneurs and build successful companies. The firm also makes philanthropic investments through the Fortisure Foundation. Mani Subramanian, himself an entrepreneur, is a 40-year veteran in the global information technology services industry. Prior to Fortisure, Mani held top management positions with TCS and Wipro Systems, and in 1993, he founded IT Solutions, which was later re-architected as Caritor. The company’s revenues grew to over $150 million in 2007 when Mani envisioned the buy-out of Keane, resulting in a combined corporation with $1 billion in revenues and 12,000 employees. Mani served as Keane’s Chairman until its merger with NTT DATA in 2010.
Nuevora is a unique Big Data analytics solutions provider that helps leading organizations achieve positive, high-impact business outcomes through the delivery of continuous and context-sensitive predictive insights. Nuevora’s analytics platform enables faster, scalable, and intuitive development and application of predictive insights by business users. Nuevora’s solutions are built as dynamic predictive apps targeted to optimize specific business problems across a given business process. Leveraging a combination of data science, predictive algorithms, and big data technologies, Nuevora’s strong team of data scientists and consultants help organizations implement smarter decisions across entire customer life cycle. The company works with some of the leading corporations in retail, financial services, insurance, high-technology, travel services, and other industries. Nuevora’s vision is to help shape the BPaaS market space and be a leader in delivery of cloud-based advanced business analytics apps for targeted business problems. Nuevora is headquartered in San Ramon, CA, and operates an analytics center of excellence in India.