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Norwest Venture Partners Invests $15M In Manthan Systems

Stocks in this article: RAX

CHICAGO, February 15, 2012 /PRNewswire/ --

In the news release, "Norwest Venture Partners Invests $15M in Manthan Systems" issued on 15 Feb 2012 05:30 GMT, by Manthan Systems, Inc over PR Newswire, we are advised by a representative of the company that the email address for both Ajith Nayar and Peter Charness should have read media.contact@manthansystems.com, rather than media.conact@manthansystems.com , as originally issued inadvertently. Complete, corrected release follows:

Manthan Systems, a leading provider of Business Intelligence (BI) and Analytics solutions for the retail and consumer packaged goods (CPG) industries, today announced that it has secured $15 million in Series C funding from Norwest Venture Partners (NVP). Manthan's suite of analytics products has radically transformed the way retailers adopt, deploy and employ analytics. Manthan's retail analytics solution, ARC, has a direct impact on profitability and growth, which has led to its adoption by leading retailers in 20 countries worldwide.

"Our deep focus on retail analytics, business intelligence and the customer is what has helped us create some of the most innovative products in the BI and analytics space. In addition, we have always been heedful of the fact that the sophisticated analytics we create need to be easy to adopt, deploy and use," said Atul Jalan, Founder & CEO, Manthan Systems.

Every business discussion today segues, one way or the other, into analytics. With markets facing tough times worldwide, retailers are suddenly and prudently opting for the security of data. More and more retailers are harnessing and profiting from the power of analytics to make better and faster decisions. While reliance on analytics is still an evolved market phenomenon, retailers across the world are taking steps towards securing their aisles.

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