USEReady, a New York headquartered strategic data and analytics partner, has received an undisclosed amount of growth capital from Boston based private equity firm Abry Partners to double down on its investments and focus in the Indian market.
Founded in 2011 by two Indians Uday Hegde and Lalit Bakshi, USEReady has developed products in the world of Data Analytics that are addressing gaps with technology vendor products. So far it had grown its business multifold by remaining bootstrapped and this is the company’s first institutional round.
USEReady plans to invest part of the funding to innovation and develop more IPs, a major part of the funds would be used to scale up its Indian operations by 5x times. The company is looking to hire 1000 data analytics and engineers in India this year. Currently the firm’s total headcount stands at 400 across six offices globally.
“We have emerged as a strategic data and analytics partner with tools and capabilities to transform large enterprise DNA (Data and Analytics) and data culture. With practices built around visual analytics, cloud data, AI/ML and engineering services, USEReady is a perfect partner to every modern CDO (Chief Data Officer). We have grown by over 55% in our order book and we felt the timing is right to bring on a reputed institutional partner, who understands scale. With this capital round, we planto accelerate our expansion plans globally with a major focus in India,” said Uday Hegde, CEO at USEReady
USEReady is investing in several tier-II and tier-III cities in India to develop data analytics talent. It’s most recent location in India is at Mohali, Chandigarh apart from Gurugram and Bengaluru. It also services its high tech and Fortune 500 clients from its New York, New Jersey and Toronto offices.
“Our biggest differentiator is that we have built a community. Our customers don’t treat us like a vendor, our employees are more than just employees, our tech partners are not just business partners. We are all part of the same data community. Today we welcome the Abry Partners team, Anders Bjork, VidurKhatri and Christian Rodriguez to the USEReady community. Abry brings growth capital, wealth of knowledge and experience to help us grow to the next level.” said Lalit Bakshi, President, and COO at USEReady.
On funding, Arby Partners, Partner, Anders Bjork said, “We are very selective about the firms we invest in and keep our investment criteria bar very high. USEReady caught our attention due to a highly differentiated offerings, strong culture with humility and customer centricity. USEReady’s customers love their people and employees love working here. Lalit and Uday have built an institution where the entire community roots for their success. With our investment and industry expertise we want to help USEReady scale to the next level.”
Primarily serving customers in the banking, financial services, and insurance industries (BFSI), USEReady provides end-to-end solutions that help customers navigate complex challenges in Legacy Modernization, Data Monetization, Data Governance and Security along with migration from on-premises to Cloud.