Course5 Intelligence Raises $28 Million In Funding The funding will be targeted at expanding Course5's footprint in the current industries it serves, while also entering new sectors that are relevant to its business
By Teena Jose
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Analytics & AI solutions company, Course5 Intelligence, announced today that they are raising a round of funding of $55 million. The company has taken a first close with 360 ONE Asset Management Limited's (formerly known as IIFL Asset Management Limited) Tech Fund which focuses on growth-oriented technology companies. 360 ONE Asset has led the round by investing $28 million in Course5. The company will be closing the balance with other premier investors shortly. The funding will be targeted at expanding Course5's footprint in the current industries it serves, while also entering new sectors that are relevant to its business.
"Course5's growth and client wins are largely due to our focus on building a world-class talent pool, driving innovation through our AI Labs, and creating business impact through the work we do. This funding will enable us to continue to invest in augmenting our value proposition for our clients. We are thrilled to have found a strong partner in 360 ONE Asset. They have a strong understanding of the technology landscape and have made many successful bets," said Ashwin Mittal, chairman and CEO, Course5 Intelligence.
Course5 plans to use investor funds to supplement its strong organic growth with inorganic growth as well as synergistic acquisitions, and also ramp up its investments in innovation and advanced AI technology in areas such as deep learning, computer vision, natural language and generative AI. According to an official statement released, the company is in talks with several M&A prospects that would add strategic capabilities or IP to complement its existing bouquet of solutions. Course5 Intelligence is on track to cross $100 million revenue in the next fiscal year and plans to launch its IPO in the next 18 months.
"Course5 has emerged as a leading Data Analytics and Insights player with strong IP-led solutions and deep domain knowledge across Technology, Media & Telecom, Life Sciences, Consumer Packaged Goods and Retail. Course5 is amongst the few scaled, profitable, and highly capital efficient pure-play Data Analytics players out of India. Ashwin Mittal has built a highly respected and market-leading company, and we are excited to partner with Ashwin on the next journey of growth and value creation," said Chetan Naik, fund manager and senior EVP at 360 ONE Asset.
