MarketsandMarkets raises $56 million capital to fund its global expansion

MarketsandMarkets, a research and consultancy firm, has raised $56 million capital funding from venture capital and private equity firm FTV Capital and Zodius Capital in a bid to strengthen its strategy to expand globally, and specifically in American and European markets. It is the very first institutional capital raised by the firm after it was launched in 2010. As part of the deal, FTV Capital managing partner Brad Bernstein will also join the startup’s board.

The firm, founded by Sandeep Sugla and Aman Gupta, provides customized research focused on high-growth and niche markets to 80% of Fortune 1,000 companies, and has clients in 12 industry verticals including the likes of IBM, Cisco, HP, BASF, Siemens, Ford, Bosch, Thermo Fisher.

Sandeep Sugla, co-founder and CEO MarketsandMarkets, said that “MarketsandMarkets has a proven model that will continue to scale. No company can afford to miss a changing market dynamic, when it comes to what will impact their revenues in the near future; companies need and rely on quantified impact data”. Adding on to Sugla’s views, Aman Gupta further explained that “Unlike competitors who tend to focus on more mature industries, MarketsandMarkets has built a sustainable model for delivering timely, high quality research in emerging industries in a cost-effective manner. This growth capital will further our success in taking share in the $40-billion global market”.