In addition to the funding in which Sparrow Advisory served as an adviser, Edelweiss has acquired a minority stake in BRIDGEi2i and Pranav Parikh, Head of Edelweiss Private Equity will join the Board of Directors at BRIDGEi2i.
The growth capital will be used to accentuate the development of machine learning-based business applications along with expansion of its consulting teams across the United States and India, claims the company.
It was the brain child of Prithvijit Roy, Ashish Sharma, and Pritam Kanti Paul who founded the company in 2011 with an aim to provide global enterprises with analytics and decision support solutions across marketing, sales, supply chain, pricing and risk management functions. It also entails embedding and deploying applications for personalization and optimization of data and algorithms.
In the global market, Bridgei2i that currently employs 125 people, enjoys a client base of companies including 10 of the Fortune 100 companies and offer analytics support across technology, manufacturing, financial services, insurance and retail sectors. It also scores an annual revenue of approximately $5.3 million. They also cater to Employee Engagement Analytics and have been featured by NASSCOM as ‘Emerge 50’ in 2014 and by Deloitte as ‘Technology Fast 50’ in 2015.
BRIDGEi2i CEO Prithvijit Roy who lists among 10 most influential Analytics leaders 2016, said:
“This investment will fuel our ability to deliver greater value to customers by enabling us to accelerate the development of our machine learning-based business applications along with significant expansion of our consulting teams across the United States and India. Our partnership with Edelweiss is exciting because we share the same vision and we look forward to their strategic inputs as we look to grow multi-fold in the next few years.”
“Big data and analytics is becoming a critically important driver for business success across sectors globally. We are impressed by what the BRIDGEi2i has achieved in a relatively short span of time, in transforming large enterprises through their impact driven approach,” said Pranav Parikh, Head of Private Equity and VC funds, Edelweiss.
“What is unique about BRIDGEi2i is their differentiated offering that blends analytics expertize with technology and a proven leadership team, which positions it well for a non-linear growth trajectory,” Parikh added.
