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    Manthan, RichRelevance merge to form Algonomy, US listing in 2023

    Synopsis

    Manthan CEO Atul Jalan will become Algonomy’s CEO, while RichRelevance CEO Sarath Jarugula will take charge as the new company’s chief product officer.

    Agencies
    Bengaluru: Manthan Software has merged with US-based RichRelevance to form Algonomy, which is now planning for a Nasdaq listing in 2023.

    Manthan CEO Atul Jalan will become Algonomy’s chief executive officer, while RichRelevance CEO Sarath Jarugula will take charge as the new company’s chief product officer. The merger between the Bengaluru- and San Francisco-based companies was announced in November 2019.
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    “We thought we are a very different company today, and needed a new name and positioning. It should represent our current capabilities and scale of ambition. Also we have a Nasdaq (listing) in mind in 2023,” Jalan told The Economic Times. He said that Algonomy’s clients are increasingly seeking “algorithmic” customer experiences and decision-making.

    The company has 400 customers—including retailers, consumer brands, quick serve restaurant chains, and convenience stores, and marquee brands such as Walmart, Comcast, eBay, HP, Honeywell, Aldi, Future Group, McDonalds, Pizza Hut, KFC, Domino’s.

    Algonomy’s solutions—a combination of Manthan’s analytics and RichRelevance’s consumer experience software—would help companies to rapidly unify all customer data on a single platform for real-time artificial intelligence-based decision-making, Jalan said.

    “As we saw during the pandemic, our customers have seen the importance of being able to quickly pivot to become digital-first, and leverage artificial intelligence to make quick decisions,” Jalan said.

    “Our algorithmic customer engagement platform has the power to transform retailers into algorithmic businesses that are responsive to individual consumers," he said, adding that Algonomy is also planning a “couple of more acquisitions”.
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