Indix, a provider of analytics and insights for brands, retailers and commerce enablers, has raised USD15 million in new funding from Nokia Growth Partners, Nexus Venture Partners and Avalon Ventures.
The funding comes after a record Q1 in 2015, bolstered by more than 250 percent growth in year-over-year revenue and from relationships with major brands and retailers. Indix will use the funding to grow its team of data scientists and engineers as well as expand its sales and marketing efforts.
“Product Intelligence is now an essential service for commerce,” says Sanjay Parthasarathy, founder and CEO of Indix. “Every business – from those creating products, to those selling and helping sell products – has realized that in order to compete, they need deep product information that’s constantly up to date. This new investment enables Indix to accelerate the development of our Product Intelligence platform and extend the benefits to new use cases, new customer segments, and new geographies.”
