Data engineering and analytics firm TheMathCompany has raised USD 50 million from the US-based Brighton Park Capital, which is an investment company that specialises in collaborating with growth-stage software, healthcare, and tech-enabled services businesses, and existing investor Arihant Patni.
The Bengaluru and Chicago-based company said the investment will accelerate its expansion in the US and EU markets, as well as enhance its next-generation proprietary platform Co.dx, which drives value for its clients through analytics at speed and scale. Founded by Sayandeb Banerjee, Aditya Kumbakonam, and Anuj Krishna, TheMathCompany employs nearly 1,000 data scientists, data engineers, and domain experts and partners with Fortune 500 companies across sectors in the US, Britain and the EU, said Sayandeb Banerjee, co-founder and chief executive.
Brighton Park Capital said the company is well-positioned to become one of the leading data and analytics consultancies in the world, supported by a team of data engineers and scientists, and complemented by the power of the Co.dx platform to deliver more value, faster, for customers. Its partner Jeff Machlin will join the board of the investee company.
Avendus Capital served as financial advisor and Shardul Amarchand Mangaldas & Company served as legal counsel to the deal. Brighton Park is a Greenwich-based investment firm that specialises in software, healthcare, and technology-enabled services. It invests in companies that provide highly innovative solutions in partnership with management teams.