Indix, a SaaS + Big Data product intelligence platform company has raised $8.5 million of a $9 million Series A-1 round of financing,co-led by Avalon Ventures and Nexus Venture Partners. This investment will allow Indix to scale its R&D and go-to-market activities.
Founded in 2010, Indix is based in Seattle with a product development and engineering team in Chennai, India. Indix’s product offerings include a product intelligence application for brands and retailers, and APIs for products, prices, promotions, stores and more to power business systems and consumer applications.
The company earlier raised $4.5 million from Nexus and Avalon. The Series A-1 round brings Indix’s total funding to $14.4 million. The company was founded by former Microsoft Vice President Sanjay Parthasarathy and four others.
On this journey, we found ourselves creating a new business category called “product intelligence”, a new tech category called “product data science”, and we are enabling a whole new set of business and consumer apps called “product-aware apps”.
What’s interesting about Indix is that the team started off to build a search engine for numbers. But then, Indix moved on to a project which aims at empowering product managers with data, tools and applications.