IntelligenceNode, a Mumbai-based big data analytics portal providing brands with competitive benchmarking solutions, has raised $4 Million (Rs 26 crore) in its latest Series A round of funding. The round was led by New Enterprise Associates and Orios Venture Partners.
Founded in 2012 by Sanjeev Sularia and Yasen Dimitrov, the company provides custom packaged solutions to e-commerce firms to help them make informed decision based on the available data. It offers services like competitive intelligence, pricing intelligence, operations intelligence and marketing intelligence.
The two major products of the company include iNCompetitor and iNOptimizer. iNCompetitor is an impressive pricing and assortment data platform, built for online and offline retailers while iNOptimizer uses price and merchandising algorithms to help you adjust your pricing and assortment in order to gain the maximum possible profit margins.
Earlier, in 2014, IntelligenceNODE had raised Rs 2 crore in funding. The company is also planning to raise another $15-$20 million in Series B round in coming 3 to 4 months.
Currently, the company’s revenue is evenly split between India and overseas market but it is now expecting the share of revenue from overseas market to increase to 80% in the next 12 months. The company’s target for next 12 months is to get to half a million monthly net recurring revenues.
IntelligenceNode has has more than 60 clients opted for its services, including the established online companies and the brands planning to start their online operations. It considers companies like Indix and Boomerang Commerce as its main competitors.