SmartAnalyst to expand its India operations

Bangalore, Sept 13: Closing its first round of institutional financing, SmartAnalyst, a New York-based custom research company with operations in India, today announced receipt of an USD 3.75 million Series C funding from US investors Edison Venture Fund and Milestone Venture Partners.

SmartAnalyst Founder and CEO Manu Bammi, in a release here, said ''this level of backing confirms our innovative business strategy of utilising an outsourced team and proprietary research processes to provide sophisticated market research and business analysis faster and at a higher value than other market research firms.'' The funding would support product development and enhance sales and marketing efforts, besides helping the company penetrate an expansive addressable market, he added.

SmartAnalyst had more than 120 employees, with sales offices in New York and London and a team of over 100 research analysts and IT staff in Gurgaon. The company planned to treble or quadruple its staff in India over the next two years.

UNI