Course5 Intelligence Completes $53 Million Fund Raise Led by Nuvama Private Equity, Sets Aside up to $80 Million for M&A

Key Takeaways:

• Course5 Intelligence, an analytics and AI solutions company, has successfully completed a funding round of $53 million, with a second close led by Nuvama Crossover Series of funds, managed by Nuvama Asset Management Limited.
• The funding will be supplemented by Course5’s own cash reserves and accruals, creating an M&A war chest of approximately $80 million.
• Course5 Intelligence plans to accelerate its growth through acquisitions in complementary assets and deep tech startups.
• The company has absorbed Incivus, an AI-based ad creation and optimization technology startup, which enhances its capabilities in generating new ad creatives and modifying existing ones.
• The funding will fortify Course5’s inorganic growth plans, allowing them to leverage synergies and add new intellectual property, capabilities, talent, and key client relationships.

Course5 Intelligence Funding and Growth Strategy

Course5 Intelligence has successfully completed a funding round of $53 million, with a second close led by Nuvama Crossover Series of funds, managed by Nuvama Asset Management Limited. This funding round follows the first close with 360 ONE Asset Management Limited in May 2023. The funding, combined with Course5’s cash reserves and accruals, will create an M&A war chest of approximately $80 million.

Ashwin Mittal, Chairman and CEO of Course5 Intelligence, highlighted the increasing scope and scale of AI deployments across global enterprises and emphasized the need to maintain their leadership position among AI and analytics solution providers. Course5 aims to maximize its value proposition to global corporates by strategically adding to its portfolio through acquisitions.

Pranav Parikh, Managing Partner at Nuvama Private Equity, expressed confidence in Course5’s ability to benefit from the acceleration of data-driven intelligence adoption. Nuvama sees Course5 as well-positioned to capitalize on this trend, given its marquee client base, industry domain expertise, and effective delivery model. They are excited to partner with Course5 to accelerate the company’s growth trajectory and build a sustainable global enterprise in the analytics and AI domain.

Vikas Khemani, Founder of Carnelian Asset Advisors Pvt Ltd, highlighted the rapid growth of data analytics and AI, transforming and disrupting businesses. He believes Course5 is well-placed to capture the opportunities presented by this revolution.

Course5’s M&A Strategy and Acquisition of Incivus

Course5 Intelligence has a structured M&A agenda, targeting synergistic assets in the US, UK, and India, with revenues ranging from $10 million to $20 million. They also plan to acquire smaller deep tech AI startups. This growth funding round will strengthen Course5’s inorganic growth plans and enable the company to leverage synergies by adding new intellectual property (IP), capabilities, talent, and key client relationships.

As part of its growth strategy, Course5 Intelligence has absorbed Incivus, an AI-based ad creation and optimization technology startup. Incivus provides a precise evaluation of all creative variables of an ad and predicts its likelihood of success using technologies such as Computer Vision, Computer Audition, Generative AI, and Natural Language Processing (NLP). The acquisition enhances Course5’s capabilities in generating new ad creatives and optimizing their effectiveness before launch, helping marketing teams improve ROI and create advertisements that resonate effectively with target audiences.

About Course5 Intelligence Limited

Course5 Intelligence focuses on helping organizations drive digital transformation using AI, advanced analytics, and insights. Their AI-driven products, solutions, and IP-led approaches enable businesses to solve complex issues related to customers, markets, and supply chains at scale. Course5 serves clients in sectors such as Technology, Media, and Telecom (TMT), Pharma & Lifesciences, CPG, Retail, and more. They have been recognized by leading industry analysts like Gartner and Forrester for their analytics and AI capabilities.

About Nuvama Private Equity and Carnelian Asset Advisors Pvt. Ltd

Nuvama Private Equity is part of the Asset Management business of the Nuvama group, one of India’s leading wealth management firms. They focus on investing in high-quality companies in emerging and high-growth sectors. Carnelian Asset Advisors is a boutique asset management firm that invests in high-quality companies operating in emerging and high-growth sectors in the Indian markets.