Data analytics solutions provider AbsolutData has said that the recent funding from Fidelity Growth Partners India would allow it to further expand its presence across the globe.

Fidelity Growth Partners India has invested US$20 million (around Rs 110 crore) in AbsolutData, which provides data analytics services to companies ranging from retail to consumer goods, and technology to hospitality.

Anil Kaul, chief executive of AbsolutData, welcomed the investment saying it would enable the company to further strengthen its ability to service the growing demand from its global clients.

Speaking on the topic, Mr. Kaul said, “We will expand our presence in markets that we service. We have a strong presence in the US, which accounts for 70 per cent of our revenues and we are now looking at expanding our office in London.”

Mr. Kaul added that the company was looking at doubling its headcount within the next one-year period.

AbsolutData currently has a workforce of 275 professionals across offices in New York, San Francisco, Los Angeles, and Chicago in the U. S. and Gurgaon in India.

The current global market for analytics and research services has been estimated at around US$ 15 billion, and it is still growing at a rate of 15-20 per cent.