Data is the new oil. And like oil, it is has to go through complex processes before it can be put to any gainful use. That’s exactly what co-founders Sayandeb Banerjee, Aditya Kumbakonam and Anuj Krishna are doing with TheMathCompany, which uses tools such as artificial intelligence for analysing data to provide consultancy to some of the top companies in the world. Its flagship product, Co.dx, is an operating system for data analytics with over 250 apps, all developed by the company to solve specific problems of customers. The apps help companies sweat assets, manage inventories and increase market share. The company boasts of 50 clients across Fortune 500 companies.
Based in Bangalore, TheMathCompany began by advising large enterprises on analytics in a strategic capacity. It changed track when the founders realised that this will limit growth. “We wanted to build scale, bring more people and build a brand. So, we brought in an asset (Co.dx) to disrupt the market,” says Kumbakonam.
Data analytics has been there for 15-20 years. However, the founders realised that though industries have grown, consulting firms, service providers and product companies have not evolved in tandem. “It started out as a code base to assist businesses. Seeing its traction, we developed it further,” says Anuj Krishna. Recently, TheMathCompany undertook a project mapping customer journey to point of purchase for a leading FMCG company in Europe which wanted insights into consumer behaviour which drives decision-making. TheMathCompany worked with the client to analyse online sales data to understand consumer preferences, identify pivotal points in the customer journey and analyse purchase baskets and behaviour. The insights helped the client find ways to increase sales volume and value. The project led to unlocking of a $6.8 million opportunity. In phase II, Brighton Park Capital has invested $50 million in the company at an undisclosed valuation. — Gina Krishnan