Analytics platform Aureus Analytics, headquartered in Singapore with a research team in India, has raised first round funding of USD 850,000 led by Steven Sule and has several marquee investors such as Rajan Anandan (MD – Google India), Arihant Patni and Arun Venkatachalam (Murugappa group) amongst others. The funds will be used to enhance product development and further expand the engineering & business teams.
Aureus Analytics has a suite of industry specific predictive analytics products and big data ready platform called ASAP. These products enable customers to tackle business critical issues by leveraging massive internal and external data sets at the point of decision making.
“We believe that the impact value of Predictive & BigData Analytics is significantly higher if made available at the Point of Decision. Our aim is to make this possible and bring the power into hands of the Business Users in an easy and seamless manner over the cloud. By our estimates, the global market opportunity for such solutions in the Insurance Industry alone is approximately 9 to 10 Billion USD”, -Anurag Shah, CEO of Aureus Analytics.
Founded by Anurag Shah, Ashish Tanna and Nitin Purohit, Aureus’ customers include Bharti AXA Life Insurance, Aegon Religare Life Insurance, General Insurance Council of India and a leading Indian bank.