GCCs Hold Immense Potential for Tredence in the India Market: CTO Tredence has raised a total of USD 205 million till date – USD 30 million in Series A (2020) followed by USD 175 million in Series B (2022)
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
For data analytics company Tredence, global capability centers (GCCs) present a huge opportunity in the Indian market, where it's already collaborating with the parent entities of several Fortune 100 companies in the US.
"GCCs are definitely a great market to go for and that's definitely something we want to target…a lot of it actually happened organically, because we were already working with the US entities. So it is just an organic way of working with them, and we actually work with them on a daily basis," Sumit Mehra, CTO and Co-founder, Tredence told Entrepreneur India.
With a lot of companies focussing on data and AI today, Mehra said Tredence sees major competition from three main entities: Large system integrators (SIs) like Infosys, Wipro, and Capgemini; pure-play analytics companies like itself, and AI product startups.
According to Gartner, the data analytics market size in 2025 is expected to be significant, with a projected global IT spending reaching around USD 5.6 trillion, indicating a substantial portion allocated towards data analytics solutions driven by the growing demand for AI and generative AI technologies.
To fuel its growth, the company launched 'Tredence Studio', a co-innovation platform and ecosystem that offers advanced data analytics and AI solutions. "Just before Covid, we decided that we are going to be an AI innovation company, which essentially means we have to stay ahead of the curve. That doesn't mean the innovation we create has to be sold as licensing. It is something that we should create ahead of time and use that innovation to speed up our customer implementations that give us a real strong edge. About 10 per cent of our employees are working on Studio today," said Mehra.
"With Studio, we have shaved a lot of costs and increased productivity of our internal teams…We are currently working on core innovations using agentic AI to transform how we work. We want agents that can help us speed up the value creation, not just the cost function," said Mehra.
Tredence sees maximum traction from three verticals: consumer packaged goods (CPG), retail, and banking & financial services. "We are seeing a lot of consumer goods companies asking for acceleration of services in GenAI and agentic AI. Same is the case with BFSI," said Mehra.
In terms of funding, Tredence has raised a total of USD 205 million till date – USD 30 million in Series A (2020) followed by USD 175 million in Series B (2022).
Asked about the company's IPO plans, Mehra said, "I think the fundraise is a process that's likely, but not on the horizon."
As a profitable services company, Tredence's goal is to increase its margins. "We have roughly grown at about 50 per cent YoY for the last 12 years. Our growth targets for this year is 40-45 per cent. Our lens has changed slightly from only focusing on growth, to also focusing on margins. Our goal is to inch higher in the 13-15 per cent range going forward," Mehra said.
