By Sramana Mitra and guest author Rajesh Nair
Sramana Mitra: Who are your competitors and how do you compete with India’s players? There are players in India who are also focusing on these kinds of niche applications. They have different cost structures, and in terms of cost structure, India still has an advantage over Latin America. So, how do you deal with pricing?
Martin Migoya: Do you think so? That India still has an advantage in this way?
Martin: Well, the cost is out of the equation. We have value. We are not trying to compete with any Indian companies. We are trying to compete with the American companies that are working in the same space. Our real competitors are doing ideation and high levels of software production, basically in the U.S.
Sramana: Is that the right analogy? Because there are companies like Global Logic, Symphony, and several others that are actually global companies. Global Logic, for example, has a huge operation in Ukraine. These are the companies that are doing product development on behalf of American countries but using India, Ukraine or Brazil or other countries.
Martin: Yes, I know. I think we are different in many aspects. For example, we are not a company that has grown with acquisitions. We are pretty much organic, and that is a huge differentiator when you deal with us, because our culture is spread all around. Also, I think that those companies that you mentioned are more U.S. focused. Take, for example, Global Logic. Although they have a delivery center in Argentina, in addition to the centers in Ukraine and India, the culture of the company is very different from our culture. The kind of products and innovations we bring to the table are quite different from theirs. They could be good at engineering, but a Globantant is good at innovation, art and design and engineering. That is the main differentiator between all our competitors and us. We are trying to leverage that differentiating factor.
Sramana: Now, from a financing strategy point of view, what has been the history of your company? How did you finance this company, and how did you grow it. What kind of money have you been raising, and where are you now?
Martin: Well, we have done three financing rounds, the last one was March , and it was for $15 million from Riverwood and FTV Capital. Nevertheless, our balance sheet is very strong. We have been able to make money every year. We feel that we can grow faster, making some acquisitions and moving to newer locations.
Sramana: How much money have you raised in total?
Martin: $32 million.