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Big data analytics firm Peel-Works raises $2M from IDG Ventures & Inventus Capital

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Mumbai-based big data analysis firm Peel-Works has secured a $2 million investment from IDG Ventures India and Inventus Capital Partners, reports The Economic Times. The company had previously raised $1 million from Indian Angel Network back in 2011.

The proceeds from this investment will be used by Peel-Networks to develop its product and analytics platform, strengthen its management team and enter new international markets. Peel-Works founder & CEO Sachin Chhabra told the publication that they expect to expand to United States and South East Asia in the next 6-12 months.

Founded in September 2010 by Sachin Chhabra, Peel-Works currently offers two main products – 9Yards and Genius. 9Yards is a salesforce management solution which provides companies analytics data on the performance of their salesforce across nine parameters like recruiting, training & development and segmentation of employee performance among others.

Genius on the other hand, analyses sales data, salesforce data and other relevant internal & external data to provide actionable insight on the employee performance, enabling companies to make quicker decision making.

Peel-Works currently counts companies like Airtel, GlaxoSmithKline, Hindustan Unilever Limited and Tata Sky among others as its clients.

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In October 2013, IDG Ventures and Inventus Capital Partners had also partnered to invest $2 million Bangalore based product recommendation platform Unbxd.

Other investments in Big Data analytics sector

Big data company Indix had raised $8.5M from Avalon and Nexus in March this year. Mumbai based big data analytics firm Germin8 had also secured $3M in funding from Kalaari Capital in the same month.

Bangalore based big data firm Spire Technologies had also raised $8M in a series A funding from undisclosed investors in December last year while MasterCard Advisors had acquired an undisclosed stake in the analytics and decision sciences firm Mu Sigma in February last year.

Tech Mahindra had also acquired 75% stake in the big data analytics company Fix Stream Networks Inc (FSNI) for $10 million.

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