Sramana Mitra: Trace the process of building QuanticMind till this point. Take us to the very beginning of what was going on in the industry. What signals were you picking up from the market that gave you the idea that there was an opportunity to do something like this? Chaitanya Chandrasekhar: Let’s talk about the
Sramana Mitra: Fantastic. That’s your big hit from the product company. You’ve built about $18 million worth of revenue across these three businesses. I believe you have raised some financing. Can you tell me a bit about the financing history about the company? Rohith Bhat: We raised our first round in 2013 from Kalaari Capital.
Chaitanya and his co-founders bootstrapped an MVP and then went on to raise $35 million in several rounds of funding. The company is now over $10 million in Annual Recurring Revenue. Sramana Mitra: Let’s go to the very beginning of your journey. Where are you from? Where were you born, raised, and in what kind
Sramana Mitra: Both of them were structured as subsidiaries of Robosoft? Rohith Bhat: Yes. Sramana Mitra: You continued Robosoft with the regular format of doing services projects? Rohith Bhat: Yes. Sramana Mitra: What was the revenue level of Robosoft at this point when you launched these two companies?
Sramana Mitra: These were projects that Apple gave you to build these apps? Rohith Bhat: We had customers of our own. We built it for them. Apple gave us the SDK. Sramana Mitra: This was very early. My question is how did you find clients to build products for the Apple App Store? Rohith Bhat:
Sramana Mitra: What kind of revenue levels were you operating at? Rohith Bhat: We were still at a million dollars. Sramana Mitra: You were steady at a million dollars from 1998 to about 2002. Rohith Bhat: In 1998, we were much smaller. By 2002 to 2003, we hit a million dollars in revenue. We were steady
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Rohith started a services company in his hometown – a small town on the west coast of Karnataka, India. Fifteen years later, the company is generating $18 million in revenue and has raised two sizable rounds of VC funding. I found the story exhilarating! Sramana Mitra:
Sramana Mitra: How much money did you raise in 2013? Jason Kassin: Our Series A was $20 million. Sramana Mitra: How many companies did you acquire? Jason Kassin: We acquired two companies. The first one was a company called Jaguar. In between, we acquired a third company, but that was of a slightly different complexion.