Quantiphi Lands $20M From Harward Business School Pass-Out

The US and India-based Quantiphi, a data science and machine learning software and services company, has raised $20 million in Series A round. The investment round led by an equity firm Multiples Alternate Asset Management. This deeptech startup is aiming to utilize the fund for growing its sales team to network in North American and European Markets and R&D expansion.

Asif Hasan, Reghu Hariharan, Ritesh Patel, and Vivek Khemani founded Quantiphi in 2013. They partnered and founded Quantiphi, with the belief that AI and machine learning are the revolutionizing technologies that will help boost their customer experience as well as their businesses. It helps clients to find and capture hidden value from data through a unique blend of business insight, big data, machine learning, and intuitive information design.  

Based in Mumbai, Multiples Alternate Asset Management Private Limited was founded in 2009 by Renuka Ramnath; a Harvard Business School pass out. Multiples’ is a venture firm that invests in mid to late-stage equity and growth capital in mid-sized firms.

It shows interest in buyouts, management-led buyouts, and spin-offs of divisions from large Indian groups. It is backed by global pension funds, sovereign funds, and other institutional investors. From $15 to $50 million is the specific range they invest in any firm. 

Quantiphi has over 500 customers from a variety of sectors such as healthcare, insurance, retail, consumer packaged goods, media, edutech, and entertainment. Earlier, the company had raised $3.5 million in funding from angel investors. AWS, Coca Cola and Google are amongst its top clients. Quantiphi competes with Zorroa, Looker, and Sisense.

Quantiphi's estimated annual revenue is $40 million and it claims to grow double year by year. Presently, it has more than 1,000 employees with offices in Boston, Princeton, Toronto, Mumbai, and Bengaluru.