# Manthan Software Services Pvt.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/manthan-software-services-pvt

- Industry: Software
- Headquarters: Bangalore, India
- Website: www.algonomy.com
- Total disclosed funding: $100M
- Latest round: Series D (Feb 4, 2015)
- Investors on record: 5

## About

Manthan Software Services Pvt. Ltd. specializes in providing algorithmic decision-making solutions for digital retail, transforming customer engagement and enhancing operational performance across diverse sectors.Founded in 2003 and headquartered in Bangalore, India, Manthan Software Services Pvt. Ltd. focuses on algorithmic decisioning for the retail sector. The company has undergone strategic changes, including the acquisition of its healthcare market research business by M3, Inc. in March 2020. Atul Jalan serves as the CEO, leading the company with a focus on innovative technology solutions. The firm has raised a total of INR 3750.00 mn in funding, with the latest round being Series D, led by Temasek Holdings. The company has completed 11 funding deals overall, with the most recent deal dated March 19, 2020.Algonomy offers a suite of algorithmic decisioning solutions designed to enhance digital retail across sectors like eCommerce, marketing, merchandising, and supply chain management. Their core products focus on personalization, customer data management, and analytics, delivering tailored experiences through advanced AI. Key offerings include a Customer Data Platform (CDP) that aggregates customer behavior data into comprehensive profiles and tools for Omnichannel Campaign and Journey Orchestration, facilitating seamless customer engagement across channels. Algonomy serves over 400 brands across 20 countries, including the United States, Canada, the United Kingdom, Germany, Australia, and India, addressing the needs for relevant interactions that drive sales and loyalty.In the most recent fiscal year 2021, Algonomy reported a revenue of INR 23,736,500.90 and an EBITDA of INR -304,723.50. The company operates on a subscription-based revenue model, allowing enterprise clients access to its suite of products through annual software licenses. The offerings include modules for personalized recommendations and analytics tools, fostering partnerships that leverage Algonomy's technology to enhance marketing and merchandising strategies.Looking ahead, Algonomy aims to introduce new products designed to enhance their existing platform, focusing on enriching customer engagement features. Plans are in place to expand into additional international markets, specifically targeting regions in Asia and Europe by the end of 2023. The recent funding round, completed in March 2020, will support these initiatives as well as bolster their technological advancements and market expansion efforts.

## Funding rounds

- Series D, Feb 4, 2015, $60M — Temasek Holdings, Norwest Venture Partners
- Series C, Jan 30, 2013, $4.1M — Norwest Venture Partners, Eight Roads Ventures, Chiratae Ventures
- Series C, Feb 15, 2012, $15M — Norwest Venture Partners
- Series B, Nov 19, 2009, $15M — ePlanet Capital, Eight Roads Ventures, Chiratae Ventures
- Series A, Jun 6, 2008, $1.5M — ePlanet Capital, Chiratae Ventures
- Series A, Jul 4, 2007, $2.1M — ePlanet Capital
- Series A, Mar 20, 2007, $2M — Chiratae Ventures

## Investors

- Chiratae Ventures (https://capitalatlas.ai/funds/chiratae-ventures) — Series A, Series B, Series C
- ePlanet Capital (https://capitalatlas.ai/funds/eplanet-capital) — Series A, Series B
- Eight Roads Ventures (https://capitalatlas.ai/funds/eight-roads-ventures) — Series B, Series C
- Norwest Venture Partners (https://capitalatlas.ai/funds/norwest-venture-partners) — Series C, Series D
- Temasek Holdings — Series D