Indian startup DataRPM gets $5.1M in funding led by InterWest
Bangalore-based startup DataRPM, which deals in business intelligence software, has raised $5.1 million in early-stage funding led by U. S.-based venture capital firm InterWest Partners.
DataRPM develops cloud-based business intelligence software. If a business owner types a question about sales in a certain location, it interprets the question by searches its database for the answer.
Shyamantak Gautam, who co-founded DataRPM with Ruban Phukan and Sundeep Sanghavi in January 2012, said, "We were so far focused on product development and the US market. Now we want to expand beyond the US."
Khaled Nasr, a partner at InterWest, said that DataRPM offered a simple and easily navigable way to automate what was otherwise a heavy manual lift at a low cost.
In the latest funding, InterWest was joined by CIT Gap. It was the second time that CIT Gap has raised funds for the Indian start-up. In November last year, DataRPM had received its $800,000 seed funding from Virginia-based CIT GAP Funds and 20K Industries.
Before founding DataRPM, Sundeep Sanghavi founded a number of successful startups, including D. C. metro area-headquartered SearchRidge and Razorsight, both of which are still operating.