Avekshaa Technologies has crossed Rs 12 crore mark in the fiscal year 2014-15
When Rajinder Gandotra, Arun Ramu and Ashutosh Shinde were building the Performance Engineering and Validation business ground up at Infosys, they recognised that IT performance, predictability and scalability needed far more specialisation than the large players. This thought inspired them to take bold move to quit their lucrative positions at Infosys and started Avekshaa Technologies in 2011 to solve burning IT issues.
“In 2011, when we saw the Indian IT industry struggling with stagnant growth and lack of direction for the future, we decided to tread out as a think tank team. Today, we have brought a paradigm shift in the IT assurance space and emerged has a specialised IT solution from India to global,” recalls Rajinder Gandotra, Co-founder and CEO, Avekshaa Technologies.
Flow of funds
Avekshaa Technologies recently raised Rs 2.4 crore venture funds at $8 million valuation from Karnataka IT Venture Capital Fund (KITVEN). Further, it has also raised a loan of Rs 50 lakh from a private sector bank. Initially, the founding team has invested Rs 1.5 crore and ex-Infosys CFO V Balakrishnan has invested Rs 25 lakh in this venture.
Gandotra with a smile on his face said, “The industry accolades from various renowned bodies, validation from the industry leaders, customers’ willingness to speak for us, and scope for the niche segment Avekshaa operates, made the pitch highly convincing to investors.”
During the initial days, the biggest challenge was to gain trust and changing the mind set of CIOs, CMOs or IT managers by providing holistic and integrated solution using Avekshaa technology platform.
However, with an experienced workforce, specialized in IT sales & marketing, the founding members were able to showcase their credibility by creating result oriented performance solutions for clients in the end-to-end project solutions.
Gandotra emphasised that this aided us in driving new business through key accounts, thus, establishing strategic partnerships and principal relationships to increase organizational revenue in the emerging markets as well.
Eyeing global markets
Avekshaa claims to have brought paradigm shift in the way the Performance, Availability, Security and Scalability (P-A-S-S) requirements are delivered for business critical IT Applications or IT systems.
“We have built a leading core technology platform – Avekshaa Business-IT Predictability & Assurance Platform (P-A-S-S Assurance Platform) – around core IPs, proven methodologies, and knowledge base of use cases and real life scenarios. The P-A-S-S Assurance Platform is a newer approach to manage complexity, investment protection, and value extraction from the existing & new IT systems,” said Gandotra.
As per Forrester research report, 64 per cent global IT leaders admit that poor application performance results in significant financial losses for their organisation. Butler Group reports that $73 billion is annually lost by the world’s industrialised nations due to poor-performing IT applications. Here, Avekshaa Technologies played a crucial role in addressing this global issue of poor performance of IT applications faced across industries.
Avekshaa delivers solutions by monetising P-A-S-S platform and help its clients to prevent performance, availability, security and scalability failures and help in engineering an application or product, which is scalable and reliable in the digital transformational world.
Future plans in India and globally
In 2013-14, Avekshaa Technologies generated Rs 4.1 crore of revenue and aimed to target Rs 12 crore mark in the coming fiscal year. In the last three years, the start-ups has tied up with Global SIs, APM (Application Performance Management) vendors and consulting firms like HP, CA, E&Y and Infosys.
Having 18 enterprise customers, the firm offer services in Banking, Insurance, Retail & Telecom domain and at present it has its presence in India, USA and Australia. “We aim to be a market leader globally in the niche P-A-S-S Assurance space and transform IT delivery of our clients. Thereby, ensuring that IT reliability no longer impacts our clients’ business and profitability,” concludes Gandotra.