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Data science startup TheMathCompany raises $10 million – ETtech.com


Data science startup TheMathCompany raises $10 million Bengaluru and Chicago-based data science startup TheMathCompany has raised around $10 million in its first round of institutional funding from venture capitalist Arihant Patni in his personal capacity, as it looks to grow its presence in markets such as Europe and APAC.

Started in 2016 by Sayandeb Banerjee, Anju Krishna and Aditya Kumbakonam, all three of whom were previously employed with startup unicorn MuSigma, TheMathCompany says it counts 33 Fortune 500 companies as its customers today.

“Today in a very short span of time we’ve gotten to an estimated $10 million in revenues,” said Aditya Kumbakonam, co-founder of TheMathCompany. “We’ve been doubling our growth since the beginning and we’ll continue to do so in the coming few years as well.”

The startups offers data analytics services to enterprises right from advisory, to implementation and even hires and trains talent for customers. While majority of its business today comes from the US, it will utilise the funding to grow in new regions and strengthen its platform offerings.

Majority of TheMathCompany’s customers are in CPG, retail and insurance, while it also does service customers in aviation, banking, building specific instances of data science for these companies end-to-end.

Having grown the business in a bootstrapped manner, the company says it is has been making profits and will continue to do so at an operational level even post the funding. Today TheMathCompany has 250 employees spread across the globe, a large chunk of whom sit out of its office in Bengaluru.

“This is only the start of the journey. I’ve provided them with capital and will keep doing so as and when they need it to grow the business. Along this journey, we may attract other partners who are good for the overall business,” said Arihant Patni, Managing Director of Ideaspring Capital.



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