Course5 Intelligence – an analytics and AI solutions company – announced that they are raising a round of funding of $55 million. And the company has taken a first close with 360 ONE Asset Management Limited’s (formerly known as IIFL Asset Management Limited) Tech Fund which focuses on growth-oriented technology companies. 360 ONE Asset led the round by investing $28 million in Course5. The company is going to be closing the balance with other premier investors shortly. Course5 has been seeing rapid growth and has delivered consistent financial performance.
Plus Course5’s analytics and insights solutions are backed by continuous innovation in Course5’s AI Labs and also utilize global open research in AI technology. And the company’s enterprise analytics platforms are already integrated with Open AI’s GPT models for Generative AI and offer enterprises the capability to rapidly utilize the latest technology innovations to derive business impact from data.
What the funding will be used for: Course5 plans to use investor funds to supplement its strong organic growth with inorganic growth and synergistic acquisitions while also ramping up its investments in innovation and advanced AI technology in areas like deep learning, computer vision, natural language and generative AI. Plus the company is in talks with several M&A prospects that would add strategic capabilities or IP to complement its existing bouquet of solutions. Course5 Intelligence is on track to cross $100 million revenue in the next fiscal and plans to launch its IPO in the next 18 months.
The funding is going to be targeted at expanding Course5’s footprint in the current industries it serves while also entering new sectors that are relevant to its business. And as Course5 continues to enhance its analytics and insights offerings with AI capabilities across machine learning, computer vision, natural language and generative AI, thus growing investor confidence in the company indicates that this is the way forward in the organizational growth and customer service excellence journey.
KEY QUOTES:
“Course5 has been organically built on its own cash flows to date. We have always believed in being capital efficient and think that this is the right time to raise external capital given our trajectory and the tailwinds in our industry. We have been experiencing strong demand for our analytics and AI solutions with current and new clients. Analyst recognitions for our IP-based products and solutions have also been pouring in and testify to the kind of value we are creating for our clients. Course5’s growth and client wins are largely due to our focus on building a world-class talent pool, driving innovation through our AI Labs, and creating business impact through the work we do. This funding will enable us to continue to invest in augmenting our value proposition for our clients. We are thrilled to have found a strong partner in 360 ONE Asset. They have a strong understanding of the technology landscape and have made many successful bets.”
— Ashwin Mittal, Chairman and CEO of Course5 Intelligence
“Data Analytics is expected to see strong secular growth over the next decade with companies leveraging AI and Advanced Analytics to accelerate digital transformation. Course5 has emerged as a leading Data Analytics and Insights player with strong IP-led solutions and deep domain knowledge across Technology, Media & Telecom, Life Sciences, Consumer Packaged Goods and Retail. Course5 is amongst the few scaled, profitable, and highly capital efficient pure-play Data Analytics players out of India. Ashwin Mittal has built a highly respected and market-leading company, and we are excited to partner with Ashwin on the next journey of growth and value creation.”
— Chetan Naik, Fund Manager and Senior EVP at 360 ONE Asset
