AUREUS ANALYTICS Raises USD 850,000 from Leading Global Angels Investors

Aureus’ Point-Of-Decision BigData Products enable Insurance and Banking customers to leverage internal and external data sets to solve business critical challenges.
 
 
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* Fund Raising
* Insurance
* Analytics
* Big Data
* Banking

Industrys:
* Insurance
* Technology

Location:
* Mumbai - Maharashtra - India

MUMBAI, India - Dec. 1, 2014 - PRLog -- Aureus Analytics has raised its first round of funding of USD 850,000. The funding round was led by Steven Sule (NASTE Advisors) and has several marquee investors such as Rajan Anandan (MD – Google India), Arihant Patni (Hive Data) and Arun Venkatachalam (Murugappa group) amongst others. The funds will be used to enhance product development and further expand the engineering & business teams.

Headquartered in Singapore with R&D team based in Mumbai, 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.

Traditionally analytics teams work post facto and hence have an inherent delay in presenting the insights to the business. On several occasions these delays lead to diminished returns on the insights. In addition, the amount of data available to enterprises internally as well as externally has grown exponentially in the past few years. This leads to a severe challenge in being able to process data from varied data sources to be able to get the relevant business insights.

Aureus’ product suite makes it possible for enterprises to process massive volumes of data from varied sources that include not only the core data ecosystems but also external data sources like social, etc. and make the insights available when they are needed, where they are needed and in a format that they are most relevant to the business users. The current set of poroducts bring analytics to the point of decision for business cases like Persistency Control, Customer Service, Revenue & Customer acquisition analytics and Customer One View.

Founded by Anurag Shah, Ashish Tanna and Nitin Purohit, Aureus already has a few customers that include Bharti AXA Life Insurance, Aegon Religare Life Insurance, General Insurance Council of India and a leading Indian bank. Both Anurag and Ashish are serial entrepreneurs having successfully exited their earlier ventures while Nitin has been an orchestrator of many products & IP in his previous roles.

We have engaged Aureus Analytics to help us understand our customer behavior better and generate meaningful insights.”Saujnaya Shrivastava, Chief Marketing Officer Bharti AXA Life Insurance.

According to Steven Sule, who lead the round, “Aureus' focus on the insurance space allows them to be at the forefront of the industry which will increase its utilization of analytics tools to better understand their products and customers in the future.”

“By our estimates, the global market opportunity for such solutions in the Insurance Industry alone is approximately 9 to 10 Billion USD. We could not have asked for a better set of investors to back us at this early stage of our journey. This has reaffirmed our faith that what we are building is going to be a game changer in the near future”, said Anurag Shah, CEO of Aureus Analytics.

Media Contact
Ketan Pandit
***@aureusanalytics.com
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Tags:Fund Raising, Insurance, Analytics, Big Data, Banking
Industry:Insurance, Technology
Location:Mumbai - Maharashtra - India
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