Course5 Intelligence Raising USD 55 Million Funding; Concludes First Close With 360 ONE Asset’s Tech Fund

May 21, 2023

Analytics & AI solutions company, Course5 Intelligence, announced today that they are raising a round of funding of USD 55 million. The company has taken a first close with 360 ONE Asset Management Limited’s (formerly known as IIFL Asset Management Limited) Tech Fund which focuses on growth-oriented technology companies. 360 ONE Asset has led the round by investing USD 28 million in Course5. The company will be closing the balance with other premier investors shortly. Course5 has been experiencing rapid growth and has delivered consistent financial performance.

Course5’s analytics and insights solutions are backed by continuous innovation in Course5’s AI Labs and also leverage global open research in AI technology. The company’s enterprise analytics platforms are already integrated with Open AI’s GPT models for Generative AI and offer enterprises the capability to rapidly leverage the latest technology innovations to derive business impact from data.

Course5 plans to use investor funds to supplement its strong organic growth with inorganic growth as well as synergistic acquisitions, and also ramp up its investments in innovation and advanced AI technology in areas such as deep learning, computer vision, natural language and generative AI. The company is in talks with several M&A prospects that would add strategic capabilities or IP to complement its existing bouquet of solutions. Course5 Intelligence is on track to cross USD 100 million revenue in the next fiscal and plans to launch its IPO in the next 18 months.

Ashwin Mittal, Chairman and CEO of Course5 Intelligence, said, “Course5 has been organically built on its own cash flows to date. We have always believed in being capital efficient and think that this is the right time to raise external capital given our trajectory and the tailwinds in our industry. We have been experiencing strong demand for our analytics and AI solutions with current and new clients. Analyst recognitions for our IP-based products and solutions have also been pouring in and testify to the kind of value we are creating for our clients. Course5’s growth and client wins are largely due to our focus on building a world-class talent pool, driving innovation through our AI Labs, and creating business impact through the work we do. This funding will enable us to continue to invest in augmenting our value proposition for our clients. We are thrilled to have found a strong partner in 360 ONE Asset. They have a strong understanding of the technology landscape and have made many successful bets.”

Chetan Naik, Fund Manager and Senior EVP at 360 ONE Asset, said, “Data Analytics is expected to see strong secular growth over the next decade with companies leveraging AI and Advanced Analytics to accelerate digital transformation. Course5 has emerged as a leading Data Analytics and Insights player with strong IP-led solutions and deep domain knowledge across Technology, Media & Telecom, Life Sciences, Consumer Packaged Goods and Retail. Course5 is amongst the few scaled, profitable, and highly capital efficient pure-play Data Analytics players out of India. Ashwin Mittal has built a highly respected and market-leading company, and we are excited to partner with Ashwin on the next journey of growth and value creation.”

The funding will be targeted at expanding Course5’s footprint in the current industries it serves, while also entering new sectors that are relevant to its business.

As Course5 continues to enhance its analytics and insights offerings with AI capabilities across machine learning, computer vision, natural language and generative AI, growing investor confidence in the company indicates that this is the way forward in the organizational growth and customer service excellence journey.

About Course5 Intelligence Limited

Course5 Intelligence Limited (“Course5”) focuses on helping organizations drive digital transformation using artificial intelligence (“AI”), advanced analytics, and insights. Course5’s AI-driven products and solutions and IP-led solutions are supported by industry-specific domain experience and the latest technologies and aim at enabling organizations to solve complex issues relating to their customers, markets, and supply chain at speed and scale. Course5 combines a multi-disciplinary approach to data integration across structured and unstructured data sources to help businesses grow through informed decision-making.

Course5 caters to some of the world’s largest enterprises, including many Fortune 500 companies. The company’s clients span Technology, Media, and Telecom (TMT), Pharma & Lifesciences, CPG, Retail, and other sectors. Course5 Intelligence has been recognized by leading industry analysts like Gartner and Forrester for its Analytics and AI capabilities and proprietary AI-based platforms.

About 360 ONE Asset Management Limited

360 ONE Asset Management Ltd, earlier known as IIFL Asset Management Limited, is one of India’s leading alternates-focused and public markets-focused firm, offering products across multiple asset classes. With deep-domain knowledge, a strong understanding of the Indian markets and a highly experienced investment team, 360 ONE Asset is focused on creating the right risk-adjusted alpha for investors.

360 ONE Asset manages a total AUM of more than INR 58,000 crores* across all its businesses. The sizeable and growing asset management business is the market leader in alternatives and an important pillar of the 360 ONE group, growing independently but also synergistically. 360 ONE Asset’s differentiated product suite includes alternative investment funds (AIFs), portfolio management services (PMS) and mutual funds (MFs) spanning across asset classes of public and private equity, fixed income and real estate. 360 ONE Asset has been playing a pivotal role in the growth of the AIF industry in India.

360 ONE Asset has been active in the private equity ecosystem since late 2015. Across multiple strategies, 360 ONE’s Category II AIF has early-stage to late-stage investments across Technology, Healthcare, Financial Services and Consumer spaces. The company has made investments in multiple unicorns in India and generated exits from few portfolio companies.

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