Sramana Mitra: What is your model? Do you do services? Do you have products? What’s the business?
Jaswinder Chadha: It’s all of the above but we, primarily, view ourselves as a services company. Even software today is a services business. In some ways, we have an advantage in that we came from building products and delivering services on this platform. Typically, product companies don’t have a strong DNA of delivering services to clients. Fortunately, we do.
We invested a significant amount in building products. We actually have a number of accelerators and platforms that we use to deliver business planning, business analytics, and business process management services to the clients.
Sramana Mitra: The products are not sold outside. The products are used as tools by your service people.
Jaswinder Chadha: No, the products are sold as a package of a complete solution. For example, when we are delivering analytics to large sales forces, our software gets embedded into the CRM systems. We are a products company, but we also provide data management and data analytics services on top of it. Not everything can be automated. We use a combination of products and services in delivering this value.
Sramana Mitra: I imagine you self-financed this company at the beginning.
Jaswinder Chadha: Yes, we self-financed it. My brother and I are co-founders of marketRx and Axtria. We had a bit of our own capital, but we were very fortunate because the group of four angel investors who had helped us build marketRx were also very interested in helping us build another company. We just announced a new round a couple of weeks ago. A significant part of that round is still our own capital. We just brought in Helion Ventures into the mix who wrote a big check and led the round. A significant part of the business has been financed by private capital.
Sramana Mitra: How is the revenue scaling with this one?
Jaswinder Chadha: It’s pretty good. Last year, Inc. magazine ranked us as the second fastest growing tech company in North America. We were number 32 in the country across all categories.
Sramana Mitra: What revenue level is that at?
Jaswinder Chadha: We’re north of $30 million a year right now. When you look at verticals, it’s multi-vertical. When you look at horizontal from a capability perspective, it’s both tech and business. It’s a lot more product-centric now than just services-centric.