(RTTNews) -  Business intelligence and analytical solutions provider for the retail and consumer packaged goods industries, Manthan Systems announced that it has secured series B funding upto $15 million. The funding was led by Fidelity International, IDG Ventures India and DFJ ePlanet Ventures.

Pursuant to the funding, Raj Dugar, managing director at FIL Capital Advisors India, Fidelity International's private equity advisory company in India, has joined Manthan's board of directors.
The funding would help infuse important investments in this direction, particularly in augmenting our sales and delivery presence across key markets, scaling our product organization -to match our growth, and also capitalizing on suitable inorganic growth opportunities, the company said.

Commenting on the funding, Dugar said, "We believe Manthan is well positioned to make a significant impact on the global retail landscape as the industry steps up value realization through its usage of Business Intelligence and Analytics. Manthan's best-in-class products address retailers' increasing need to compete on analytics, currently a top priority for retailers worldwide. Under Atul Jalan's leadership, Manthan has the potential to be a major software products company and we are excited to participate in its growth."

by RTT Staff Writer

For comments and feedback: contact editorial@rttnews.com