Antuit, a Singapore based global Big Data solutions startup, has garnered $56 million in funding from the leading global investment bank, Goldman Sachs.It is hoped the funding will bolster global expansion through organic growth and acquisitions.
Arijit Sengupta, Antuit’s CEO explains, “The rapidly growing $10 billion plus Big Data services market is ripe to be organized and consolidated under a market leader. Goldman Sachs, an experienced investor in technology and services, brings us not only capital, but also deep expertise around how to grow into such a company and a global network of corporate relationships which will be instrumental to Antuit’s success.”
Primarily led by Goldman Sachs, the round also saw participation from Zodius Capital, an original founding investor in the company.
For Goldman Sachs, this is its first big investment into Big Data and Analytics in Asia. Co-Head of private equity at Goldman Sachs in Asia, Ankur Sahu, enunciates, “We believe Big Data analytics can be the next wave of global services and the industry is in the same early stage as IT Services in the 1990s and Business Process Outsourcing in the early 2000s.”
“Driven by increasing data generation, faster processing speed and the evolution of data sciences, the market has tremendous growth potential,” he added.
Founded in 2013, Antuit is an execution-oriented Big Data solutions firm that enables enterprise clients to tap business value from “big and little data” through a spectrum of data management, visualization, predictive and optimization solutions explains the press release announcing the investment.
The company offers an Analytics-as-a-Service model which integrates people, products and methodologies seamlessly in two core areas: Supply Chain & Operations and Sales & Marketing. Antuit’s clientele includes eight Fortune Global 500 companies, Avon, Fonterra, Hyatt and Orix Corporation and it boasts offices in New York, Seattle, Singapore, Bangalore and Auckland.
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(Image credit: Uwe Schwarzbach, via Flickr)