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Host Analytics, a cloud-based financial applications for planning, consolidation, reporting and analytics, is planning to triple its research and development (R&D) headcount at its Hyderabad centre in the next three years.
The Silicon Valley-based company, which relocated its Hyderabad centre to a new 12,500-sft building in Hitec City, currently employs 80 professional here.
The company has earmarked $10 million for expanding R&D activities in Hyderabad over the next three years, Dave Kellogg, chief executive officer of Host Analytics, told mediapersons here on Monday.
Quoting a recent Gartner report, Aravind Balakrishnan, vice-president of Host Analytics, said that the SaaS (software-as-a-service) market growth will remain strong in 2015, while spending on SaaS was expected to touch $22.1 billion by then. “The SaaS penetration level is very low in India. We expect a good growth in this segment in the coming years,” he added.
Host Analytics currently has more than 300 customers globally, including Essar Oil and Splunk, for cloud-services. “We have seen a 100 per cent growth in revenues last year. With the expansion in our R&D centre in Hyderabad, we expect an incremental growth next year,” he said.