Deals

Here’s a big $9M first round for the boring but money-making Indix

Indix is a SaaS and big data product intelligence platform company. Oh my gosh, that’s actually painful to reread. What does it even mean?

I mean, obviously it means that Indix is helping all kinds of businesses do business better and smarter through the power of intelligent, cloud-based software and lots of cleverly analyzed data.

But c’mon. It’s not the sexiest description.

Sex aside, a B2B company that focuses on helping other companies make more money is a good business bet. That’s why Avalon Ventures and Nexus Venture Partners have kicked off the first $8.5 million of a $9 million “series A-1,” which is either a steak sauce-related financial product or a ridiculous bit of VC jargon.

Moving forward, Indix is based in Seattle with engineers in India. The startup was founded in 2010, and it claims that “current customers include some of the world’s top 50 Internet brands and retailers.”

“Our mission at Indix is to organize, analyze, and visualize the world’s product information so everyone can act on it,” said Sanjay Parthasarathy, founder and CEO of Indix, in a statement on the news.

“As commerce becomes pervasive, every interaction in the physical world or on the web becomes an opportunity to inform, educate, and sell products and to do that well you need a product database with breadth, depth, and quality.”