Analytix DS to expand in India, raise VC funds
HYDERABAD, DEC. 19: Analytix DS, a specialised software vendor with data mapping products plans to set up a Development Centre in Bengaluru with an investment of Rs. 50-100 crore.
The data quality centre would house about 100 staff to begin with. The location has been identified and the growth strategy worked out to scale up business and headcount in the near term, said K Madan Mohan Rao, Chief Executive Officer.
The Chantilly, Virginia, US headquartered company has a large offshore development centre in Hyderabad and earns $10 million in revenues from India operations at present. It specialises in ETL conversion tools for data integrations, management and big data software and services. It has offices in North America and Asia.
ETL (extract, transform and load) is a computing process that facilitates migration of data from one database to another desirable database (including format).
The company is betting big on two recent product launches this year—mapping manager and a code automation template framework. Mike Boggs, the CTO and founder of the company is a pioneer developer of the technology that helps in addressing issues surrounding data mapping, integration, quality and conversion for large corporates with multi-location, multi-country operations.
Among the biggest clients are Microsoft, Pfizer, Toyota, Caterpillar, Australian Red Cross. Lot of IT projects in corporates fail because the internal data mapping is not done properly. “We are the leading company addressing this issue because we have the technology and tools”, Madan Mohan told Business Line.
The major benefits of using these products is eliminating spreadsheets, save time (up to 60 per cent), costs (up to 50 per cent) as it cuts human hours involved, resources and human interface among others, he claimed. The Mapping Manager is an automated solution across platforms (unlike IBMs Fast Track) helping companies meet all their ETL conversion and migration needs.
The Hyderabad Centre, which has around 200 employees is a major contributor in the development of the products and is driving new solutions. There are over 500 consultants in the US for the company. To meet expansion plans, the company is tapping venture capital (VC) funds to the tune of $25-50 million, especially from the US in the next few months, he said.
Madan Mohan said the big data analytics market is growing fast and the projected business size for the areas in which the company’s products find application is around $350-400 billion.
Source: The Hindu Business Line