Master data management company Riversand Technologies has raised $35 Mn Series A funding led by Crestline Investors.
Texas-based Riversand Technologies was founded in 2001 by Upen Varanasi and Anil Kini. Riversand MDM solutions help clients construct business strategies and maximise customers’ experience based on data. The company’s clientele includes Kingfisher PLC, Husky Energy, Brighstar, Exxon Mobil among others.
Will Palmer, Director at Crestline said, “Riversand has a strong brand presence across multiple industries, data domains, and geographies. With their MDM 2.0 platform, Riversand has now created a name in the industry for being an innovative MDM solution provider with the most disruptive vision and unique strategy.” With this round of funding, Crestline’s Palmer will join the company Board of Directors.
As per a company statement, it has experienced increasing revenue at more than 25% CAGR over the last six years. The company will use the recently raised funding to accelerate global expansion and, for further investment, in its disruptive MDM 2.0 (Master Data Management) platform. Apart from this, the funding will be utilised for strengthening its core verticals
Upen Varanasi, Founder and CEO of Riversand Technologies said, “We are excited to partner with Crestline Investors at a time when we are expanding globally. With our MDM 2.0 vision, we are bringing together relevance, trust and insights to our customers in an era of cloud, high-scale, and data discovery.”
The company caters to global enterprises in retail, manufacturing, distribution, energy, healthcare, and food services. The company is headquartered in Houston with offices in Bengaluru (India), London (UK), Stuttgart (Germany), Switzerland, and Sydney (Australia).
In January 2017, American multinational storage and data management company NetApp launched its Global Centre of Excellence in Bengaluru, with an investment of more than $146 Mn (INR 1,000 Cr). Other startups in this domain apart from Riversand include Optimove, Skwid, Infinite Analytics among others. Indian companies in this domain include Wipro, Capgemini, etc.