Bengaluru: Big data analytics platform Iqlect has raised a bridge round of $2.5 million (approx ₹17.2 crore) from new investor VentureEast and existing investor Exfinity Ventures. The round will help the company to add leadership team in Bengaluru and also hire more engineering and sales talent.

Iqlect is in the process of shifting its headquarters to San Jose, US, and is also looking to add go-to-market and tech talent in the US too.

“We are looking to hire VP’s for engineering, product management, marketing and sales and also a country manager for India. Also, we are flipping the company to make it a US company. So, we are hiring go-to-market folks and a few key tech guys for our US office,” said Sachin Sinha, CEO, Iqlect. The company had earlier raised a $2 million round from Exfinity Ventures.

Iqlect offers real-time predictive analytics platform and various solutions in domains like infrastructure, ecommerce, security, among others, on cloud, as a Software-as-a-Service and on-premise deployment models.

The company is also launching its proprietary NoSQL Database, BangDB, on a larger scale by September. A database-management system is simply a software application that talks and connects end users, applications and the database to capture and analyse data.

“A deep-tech company that seeks to make real-time data analytics more easily accessible, Iqlect offers an affordable full stack analytics solution. The platform, operating on a flexible plug-and-play model, is a departure from existing solutions by competitors,” said Shailesh Ghorpade, managing partner, Exfinity Ventures.

Iqlect, which is looking to hit an annual recurring revenue of $1 million by the year end, is also in the process of raising a Series A round soon, with existing investors as well as a few foreign investors from the Bay Area.

(Excerpt) Read more Here | 2018-07-26 04:16:00
Image credit: source


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