The 360 ONE Asset Management (formerly IIFL Asset Management) Tech Fund has invested USD 28 million in Course5 Intelligence, a data analytics startup. The capital infusion is the initial tranche of a larger USD 55 million round of funding, according to a statement issued by the company on Thursday.
Course5 Intelligence, which assists customers with market and supply chain issues, intends to use the capital to accelerate organic and inorganic growth while increasing its investment in advanced AI capabilities.
Clients include those in technology, media and telecommunications, life sciences, consumer packaged goods, and retail. It wishes to expand its presence in these areas while also entering new markets.
The company stated that it is evaluating several merger and acquisition opportunities that would add strategic capabilities or intellectual property to its existing suite of solutions.
Course5 expects to surpass USD 100 million in revenue in the coming fiscal year as it prepares for an initial public offering in the next 18 months.
Course5 has raised external capital alongside a number of other data science-based companies. Tredence raised USD 175 million in its Series B funding round led by Advent International in December 2022. Fractal Analytics received USD 360 million from private equity firm TPG in January 2022, allowing it to join the unicorn club, while The Math Company received USD 50 million last year.
