Business Daily from THE HINDU group of publications
Friday, Oct 13, 2006
ePaper
Business Daily from THE HINDU group of publications Friday, Oct 13, 2006 ePaper |
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Info-Tech
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Human Resources SmartAnalyst to hike headcount Our Bureau
New Delhi , Oct 12 The Indian arm of US-based research and analytics company SmartAnalyst has raised $3.75 million from two venture funds and will multiply its headcount nearly eight times in the next few years. "The company has secured $3.75 million funding from US investors Edison Venture Fund and Milestone Venture Partners. A major portion of the funding will be utilised in our expansion in India," the Founder and CEO, Mr Manu Bammi said. "The funding would support product development and enhance our sales and market efforts," he said, adding that the company was self-funded earlier. SmartAnalyst has its delivery platform in Gurgaon, while the sales and marketing team operates from the US. "We will also increase our headcount in India to 500-800 from 100 currently in the next 3-4 years," he said. The company has only one client in the country and expects to increase that number to 10 within a year, Mr Bammi said, adding that it has about 75 clients worldwide and many of them are in the US. SmartAnalyst is also scouting for a second location in India and even plans an office in China. The company provides research and analytics solutions to three sectors — life sciences, consumer market services and financial, Mr Bammi added. "We aim to become a $50-million company in the next 3-5 years," he said.
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