Sequoia Capital Backs India’s Axtria


Axtria Inc., an Indian developer of sales and marketing analytics, has raised $2.5 million in Series A funding led by Sequoia Capital India.

PRESS RELEASE

Axtria, Inc., an innovator in the application of analytics and technology to improve sales and marketing performance, announced today the closing of $2.5 million Series A financing. The financing was led by Sequoia Capital India. Private investors including Richard Braddock, Amarpreet Sawhney and Sandeep Tyagi also joined the round. Mr. Braddock is Chairman and CEO of FreshDirect. In prior roles he has served as President and COO of Citicorp, CEO of Medco Containment Services, Chairman and CEO of priceline.com and Chairman of MidOcean Partners. Amarpreet Sawhney is CEO of Octux Inc. His former roles include founder and CEO of Confluent Surgical and Chairman of marketRx. Sandeep Tyagi is Chairman and Managing Director of Estee Advisors. Prior to Estee Advisors Mr. Tyagi was the CEO of Inductis.

In conjunction with this financing, Richard Braddock and Amarpreet Sawhney will join Axtria’s board of directors. Axtria will use proceeds from the financing to develop business analytics software products and to expand its current US-based operations into India.

“Most businesses recognize the value of analytics in decision making. The challenge comes from the growing volume of data and the gaps between IT and real-world business needs. Business decision makers often don’t have the tools to get the right insights at the right time. They rely on analysts to run analysis and interpret results. This often leads to inefficiencies and lag in having the insights to drive operational decisions. Axtria is developing next generation business analytics software that will put the power of predictive analytics in the hands of business decision makers,” said Jaswinder Chadha, President & CEO of Axtria. “Our products are supported by experienced consultants who know the industries they serve.”

Navdeep Chadha, Chief Technology Officer of Axtria commented, “Our software products have been designed to work on multiple platforms. They can easily be integrated with existing enterprise software applications. Clients will appreciate the speed with which our products can be implemented. Our products are intuitive and easy to use, so that business decision makers can access the power of predictive analytics.”

“The potential of business analytics technology and services is enormous. Demand is expected to grow exponentially in the coming years,” said Richard Braddock. “The management team at Axtria has tremendous experience. They have the right vision of combining industry knowledge, business analytics and technology to provide solutions with real value.”

“Axtria is well positioned to be a leader in the enterprise analytics industry. We are excited to yet again back Jaswinder and Navdeep. We have confidence in their experience and abilities to make this a success,” said Sandeep Singhal, Managing Director of Sequoia Capital India.

About Axtria, Inc.

Axtria provides business analytics technology and services to improve effectiveness in sales, distribution, marketing and customer operations. Using a ‘product-enabled service’ model, Axtria provides customized analytics software that marries the scalability of a product solution with the customization, ongoing support and depth of knowledge provided by a professional services firm. Axtria’s products are designed to be integrated with existing applications, increasing the ROI of IT investments. Axtria’s consultants combine industry knowledge with an expertise in analytics, an understanding of data, and training in the latest technologies. They take a consultative and collaborative approach to developing analytics solutions tailored to each client’s specific business need. This approach enables rapid delivery of customized tools that place analytics in the hands of decision makers.

To learn more about Axtria, Inc. visit: www.axtria.com

About Sequoia Capital India

Sequoia Capital India manages funds capitalized at close to US $1.8 billion and invests across venture, growth and late stage opportunities. It takes a long term view on investments and plays the role of an active, value added partner to entrepreneurs, business families and management teams. Over the last 9 years, Sequoia Capital India has invested in more than 50 companies, operating out of offices in Bangalore, Mumbai and New Delhi.

Globally, Sequoia Capital has an unparalleled track record of partnering with entrepreneurs to create global market leaders. Sequoia Capital has been an early investor in companies such as Google, Cisco, Yahoo, YouTube, Oracle and Apple Computers. Sequoia Capital maintains dedicated teams in the US, China, India and Israel.

To learn more about Sequoia Capital India visit: www.sequoiacap.com/india

Find new deal opportunities, super-charge your fundraising efforts and track top managers with VCJ. Get your FREE trial! Or subscribe now!