Host Analytics to Invest $10 Million to Intensify R&D and Expand R&D Presence in India
Unveils New Hyderabad R&D Center; Names Anurag Garg as New General Manager
HYDERABAD, India – Jan. 28, 2013 – Host Analytics, the leader in cloud-based enterprise performance management (EPM), today announced that it has expanded its Hyderabad R&D center and relocated to new 12500 square foot facility in HITEC city. It also named Anurag Garg as its new General Manager of Indian Operations. Host Analytics projects India R&D investment of more than $10M over the next three years.
The R&D center in Hyderabad currently employs 80 engineers. It looks ahead to an incremental growth in its talent pool as it grows in the region and continues the development of its strategic growth initiatives. Host Analytics offers cloud-based financial applications for planning, consolidation, reporting and analytics.
Host Analytics recently completed a record 2012 fueled by revenue growth in excess of 100 percent. The company won transactions at key customers including Essar Oil, WD-40, Sprouts Farmers Market LLC, NEC and Splunk. It also closed a $17 million series D venture capital funding this year from investors Advanced Technology Ventures, Trident Capital, StarVest Partners and Next World Capital.
"I am happy to announce the continued expansion of our India operations and thrilled to welcome Anurag Garg to Host Analytics," said Dave Kellogg, CEO at Host Analytics, who joined the company in August, 2012 from Salesforce.com where he served as Senior Vice President and General Manager of the Service Cloud. "Because Host Analytics was founded simultaneously in India and the USA, Hyderabad has always been a strategic location for us. With this announcement, we continue to step-up our commitment to India and to our highly successful distributed R&D strategy."
"The cloud has revolutionized the way we deliver complex software applications, and it is rapidly becoming the preferred software delivery model for enterprises of all sizes," said Aravind Balakrishnan, VP of Engineering at Host Analytics. "Hyderabad provides an outstanding talent pool for developing enterprise cloud applications, and I am happy that we are investing today so that we can continue offer the industry's leading suite of cloud-based applications for enterprise performance management."
According to Gartner, Inc. Global spending on SaaS (software as a service) or cloud based applications could grow 17.9% in 2012 to $14.5 billion. SaaS market growth will remain strong through 2015, when spending on the SaaS is expected to hit $22.1 billion
Newly appointed General Manager of Hyderabad R&D center Anurag Garg will be responsible for R&D where it has already made headway with Essar Oil as its customer. Garg was earlier director and head of Polycom, R&D in India and brings on board strong international experience having lived and worked in India, the USA, and Germany. Garg began his career in engineering at Siemens and AT&T Bell Labs. He is also a serial entrepreneur who founded and sold three companies.
Host Analytics CEO Dave Kellogg, CFO Kelly Battles & other key executives are currently on a visit to India, to participate in the Company's Annual Kickoff Event.
About Host Analytics
Host Analytics is the leader in cloud-based financial applications for planning, consolidation, reporting and analytics. Host Analytics Enterprise Performance Management (EPM) customers benefit from faster deployments, increased security, a faster pace of innovation, reduced carbon footprint, and a greatly reduced total cost of ownership compared to traditional on-premises alternatives. World-class companies like AT&T, Marsh, Burlington Coat Factory, NEC, and Groupon trust Host Analytics to power their strategic financial processes. Host Analytics is a fast-growing, private company backed by leading venture capitalists and is headquartered in Silicon Valley with offices around the globe.
For more information about Host Analytics, please visit www.hostanalytics.com or follow @host_analytics.
PR for Host Analytics
Sheela Panicker EnRight PR
+91 98498 09594 enRight@enrightpr.com