Former Microsoft VP Closes $8.5M in Funding for New Biz
As the former corporate VP of the Startup Business Accelerator at Microsoft, Sanjay Parthasarathy knows a thing or two about when an idea is worth pursuing and, as it turns out, so do investors.
Parthasarathy's company Indix recently closed $8.5 million in Series A-1 Funding co-led by Avalon Ventures and Nexus Venture Partners.
Indix's mission is to organize, analyze and visualize the world’s product information so everyone can act on it.
"In order to deliver this vision, we set out to build the world’s biggest, broadest and deepest product database at scale," wrote Shalendra Chhabra, director of marketing for Indix in the company's blog. "Since our launch on Oct. 16, our product intelligence platform is already being used by many of the world’s top brands, retailers and developers to explore, analyze and visualize the world’s product-related information including assortment, catalog, attributes, channels, competition, prices, promotions, news, social and more in real-time. Our customers have reported increased productivity, higher revenue and growth of their brands since they started using our software.
So what made Indix appealing to Avalon Ventures and Nexus Venture Partners? Let's ask.
“Indix’s powerful analytics engine and delightful user interface puts it in a class with other modern SaaS leaders in the market” said Naren Gupta, co-founder of Nexus Ventures. “By making it easy to analyze and visualize key business insights related to products and commerce, Indix is making its deep expertise in product data science accessible to brands and retailers.”
“The company’s ambition to organize the world’s product information makes it a valuable tool for anyone who is involved in commerce,” said Rich Levandov of Avalon Ventures. “Indix’s product database enables brands, retailers and developers to deliver the right product information to the right people at the right time, thereby improving revenue and margins.”