Mad Street Den, a leader in Enterprise AI, announced today a new round of Series C funding headed by Avatar Growth Capital, with current investors Sequoia Capital and Falcon Edge participating. Mad Street Den will be able to expand its artificial intelligence offerings across industries as a result of the financing.
Mad Street Den’s AI platform has witnessed high demand in the last 24 months. Other growth has been driven by both the retail section (Vue.ai) and the company’s expansion into new verticals including as banking, insurance, healthcare, pharmaceuticals, and logistics (getblox.ai). The funding enables the company to double down on developing the business across multiple verticals while maintaining its position as the Leader in Retail AI.
Enterprises across different industries are purchasing the company’s AI stack, Blox, in order to solve three highly complicated problems with a single platform. Blox has been used by large companies to create clean and enhanced data, enable rich-personalized customer experiences, and automate complex workflows dealing with a wide range of documents that require digitalization and processing. Blox is quickly becoming known for its 10x advantage over competitors in the industry, owing to the usefulness of its AI capabilities as well as the vast range of use cases it powers.
Blox’s data-centric strategy vs. a model-centric approach has showed substantial operating leverage for its enterprise customers.
Blox’s automated platform solves the shortage of trained data scientists and data engineers while also adding scale of operation, speed, accuracy, and considerable cost savings. Blox provides an order of magnitude faster ROI to customers, allowing for rapid growth across departments inside huge businesses, as contrasted to the market’s normal enterprise implementation timelines.
In addition, the company recently purchased INTURN, a New York-based enterprise solution that assists retailers in monetizing slow-moving and excess inventory more quickly.
Avatar Growth Capital is a specialist and thematic private equity firm investing in high-growth technology and software companies that are leveraging India to drive global digital transformation. Our team has over four decades of investing experience including 30 years at General Atlantic Partners and Goldman Sachs, further augmented by technology operations and investment banking advisory & consulting experience.