DataWeave Announces 120% Year-on-Year Revenue Growth in Q1 2017, Achieves Strong Results

BANGALORE, April 27, 2017 /PRNewswire/ --

DataWeave, a fast emerging SaaS company that provides Competitive Intelligence as a Service to retailers and consumer brands, announced today an impressive 120% year-over-year growth in calendar Q1 2017 compared to calendar Q1 2016. This growth was driven by a strong momentum in the North America market, new customer wins, and expansion within the installed base in India and SE Asia.

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"We experienced exceptional growth in Q1 2017, fuelled by a paradigm shift in how enterprises consume data in the world today," said Karthik Bettadapura, CEO and co-founder at DataWeave. "Businesses are increasingly dependent on technologies that aggregate and analyse patterns in data to provide easily consumable and actionable insights. Our products are highly effective in addressing this demand."

DataWeave's calendar Q1 2017 highlights include:

• Series A round of funding, led by FreakOut Inc from Japan, Herb Madan - a Silicon Valley investor - and a diverse group of institutional investors from the US, India, and Singapore.
• New customer wins and strong traction from installed base, driven by top-tier retailers and brands, such as, Netgear, Rakuten, ABOF, QEP, Unilog, and many more.
• Ramped up product development activities, building toward the launch of a new and improved version of DataWeave's products in Q2 2017.
• Addition of new talent across the board, with focus on strengthening the company's sales, marketing, and customer success functions.

"Building on a strong opening quarter, we plan to expand our business into new territories and segments in 2017 by focussing on both field and inside sales capabilities, and actively building a strategic partner ecosystem," said Krishnan Thyagarajan, President and COO at DataWeave. "There is interest from diverse verticals for our competitive intelligence solutions, and we are planning a calibrated foray into a few of them."

About DataWeave: 

Founded in 2012, DataWeave is a fast emerging SaaS company that provides Competitive Intelligence as a Service to CPG Brands and Retailers by harnessing publicly available data from the web. The DataWeave technology platform aggregates and analyses millions of unstructured data points, across multiple data sources, to enable enterprises to better understand their competitive environment, optimize customer experience, and drive profitable growth.

For more information, visit http://www.dataweave.com.

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Media Contact:
Sumanth Suri
VP, Partnerships & Marketing
DataWeave
[email protected]