Business Wire India
Axtria recently received a $150 million growth investment from Bain Capital Tech Opportunities
Funding is expected to enable Axtria to accelerate development of AI-enabled software platforms for the global life sciences industry
Axtria’s expansion plans closely follow the increasing demand for data driven analytics solutions among life sciences businesses across the globe
Axtria, a global cloud software and data analytics provider that helps life sciences businesses bring therapeutics to the market faster, today said that it is expanding its business operations in India. The expansion plans closely follow the increasing demand for data driven analytics solutions among life sciences businesses across the globe and the untapped potential that the industry holds for rapid growth. Axtria recently received a $150 million growth investment from Bain Capital Tech Opportunities. A part of the capital will be infused into India operations to consolidate its strong position in cloud software and artificial intelligence (AI) space and strengthen its suite of life sciences focused SaaS platforms.
Commenting on the latest developments at Axtria, Jaswinder Chadha, Co-founder and CEO, Axtria, said, “India continues to remain a key business operations centre for Axtria. Over 75 percent of our employees are currently based out of India and we are set to add another 1,000-1,500 new recruits to our workforce in the next couple of years. With the latest round of funding, we will be doubling down on our commitment to make the life sciences industry future-ready with further investments in our SaaS products. AI and Machine Learning driven advanced analytics will be embedded across all levels, allowing companies to engage their customers through omnichannel strategies.”
The latest round of funding will enable and strengthen Axtria’s efforts on helping life sciences companies bring therapeutic drugs to market faster and efficiently through SaaS platforms, data driven digital transformation, and AI enabled analytics. The company will be significantly ramping up its recruitment process to expand its workforce with the right skill sets, especially in the STEM segment to cater to the growing and diverse needs of the Life Sciences and Health Care industry. Axtria will be recruiting 1,000-1500 people in the next couple of years.
“Observing the growth potential of the Life Sciences industry and explaining Axtria’s role in it, Manish Mittal, Principal, India, said, “Axtria’s mission-critical solutions have a significant positive impact on millions of patients and drug developers. Our products and solutions are designed to help life sciences businesses bring therapeutic drugs to the market faster. This, in fact, reduces the time taken for a new drug to reach the right patient. Axtria’s innovative and data driven solutions to the most complex problems facing the Life Sciences Industry will help our customers scale their global commercial operations and connect with patients more efficiently.”
With the life sciences and healthcare industry undergoing a significant acceleration in data-driven digital transformation, there is a strong push to leverage software technology and AI to effectively scale global commercial operations. The crisis created by the COVID-19 pandemic has further accelerated this need. More than ever, companies are looking to replace archaic and ad hoc systems with digital data enablement, analytics at scale, and omnichannel software to deliver improved customer experience. Serving this impending need, Axtria has emerged as a disruptive and innovative leader with a robust suite of AI-powered platforms – Axtria DataMAx for data management, Axtria InsightsMAx for analytics, and Axtria SalesIQ and Axtria CustomerIQ for omnichannel commercial operations.
“Over the years, we have made significant investments to develop life sciences-focused software platforms that significantly improve strategic and day-to-day global operations. With this new investment, Axtria will further solidify its leadership position of enterprise products that help customers drive better patient outcomes globally,” added Mr. Chadha.
Axtria currently supports more than 100 life sciences companies, including 12 of the top 20 global leaders with its cutting-edge software solutions. The company has been recognized for its growth in the Inc. 5000, Deloitte Technology Fast 500™, NJBIZ Fast 50, SmartCEO Future 50, and Red Herring 100 rankings.