Former Info-Sys Australia founder and executive director, Ananda Rao, has re-emerged with a new start-up, Benchmark Holdings.
The data and information management company has opened shop with the support of a $40 million funding injection.
The funding comes via an investment of 200 acres of real estate in Bangalore, India, from property developer and private investor, Mahadev Gowda.
With the initial funding, Rao is now planning to raise an additional $16 million in cash by stapling real estate with equity in Benchmark.
These funds would help expand operations locally and overseas as well as commercialise the company’s flagship product, Vivace.
The product aggregates, bundles and distributes information and content, activates tools and initiates web services in large connected environments.
According to Rao, the decision to launch Benchmark came down to the exponential growth in organisational data and information generation.
“Information and data are not being presented in a shape or form that helps knowledge workers make major decisions,” he said. “What is lacking is a system to organise and extract value form that information.”
Benchmark’s approach in developing solutions around a core technology, rather than developing case-by-case software, would also help differentiate the company, Rao said.
“This way we can develop proof of concept in eight to 10 weeks and have a solution in three to four months,” he said.
So far Benchmark had opened a Melbourne headquarters with an initial staff of three and plans were under for a Sydney office by February, Rao said.
By the end of April UK and US offices were anticipated in line with the company’s plans to hit $US120 in revenues by 2010.
Initially the company will operate via a direct sales model but would look to incorporate a channel in 18 to 24 months time, Rao said.
New benchmark for data management
By Tim Lohman on Dec 13, 2005 12:30PM