Koramangala based JaMocha Tech, a software product innovation and solution engineering firm is not just another IT startup coming out of Bangalore. After just two years of starting their operations the firm was honoured in Washington DC in 2011 as a part of IDG's Computerworld Honours Program for its commitment to reduce energy consumption in IT products through its product EcoBuddy. Tasmayee Laha Roy caught up with Rajesh Sharma and Kishore Reddy the founders of the company to speak on their success. Edited Excerpts:
Tell us a little about JaMocha Tech?
JaMocha Tech is a software product company focusing on enterprise employee productivity & engagement. It was started in January 2009 in Koramangala by a team of seasoned product development experts. Both of us started our IT careers with Network Solutions(Netsol) and were responsible for building successful products which were later adapted byIBM post Netsol acquisition in 2005. Our efforts were recognised and supported by Sudhir Sarma, a serial entrepreneur with a background of having built, successfully managed and transitioned his former company, Network Solutions (Netsol) to IBM in 2005. He went on to start Future IP in 2008 which invested in JaMocha Tech. We started JaMocha Tech with our personal savings and seed funding from Future IP as an initial investment, amounting to Rs 50 lakh.
Why did you choose Koramangala for your venture?
Call it coincidence but JaMocha Tech started its operations in the same building where we used to work in our earlier organisation, located in 3rd Block Koramangala. Moreover, both of us have been associated with Koramangala for more than 20 years and have seen several IT startups emerge successfully from Koramangala. Koramangala provides a conducive environment of product culture needed for networking, validation of ideas from experts and proximity to organisations such as NASSCOM and IPMA who are promoting and organising events to support start-ups. Further, being Koramangalites and working closer to home helps ensure work-life balance.
Where did you source your funding?
FutureIP, started by Sudhir Sarma has invested into JaMocha Tech. Future IP is an ecosystem for start-ups providing the initial seed capital, strategic advice and mentoring. Now we have achieved the breakeven point with our product proving successful both in India and abroad.
Tell us about your products...
Research has shown that effective employee engagement is key to organisation success and this is especially relevant to IT firms where human capital is core to meeting its business deliverables. This is where ProHance, our flagship software solution, helps organisations achieve about 20 percent productivity gains through smart and efficient working. ProHance helps in improving the employee productivity through gainful insight into his or her work style and align work to business goals. Analytics in ProHance provide organisations an insight to influence strategic decisions and operational effectiveness. Further, ProHance can cater to multiple work scenarios such as work from home, remote workforce, shared services environment.
Is there a market for such solutions?
India being a global leader in IT services has a huge workforce engaged in services such as application development, application support and maintenance, infrastructure management, BPO/KPO/LPO services among other things. ProHance has a huge opportunity to cater to more than 2 million workforce engaged in the above operations and enabling Indian IT Industry retain its competitive advantage. While there are a few products competing in productivity & desktop analytics space, ProHance stands out through its holistic approach to enterprise wide employee engagement.
Who are your clients? What is the USP of JaMocha Tech?
We have customers ranging from small, medium and large enterprises both in India and abroad. Customer profiles include organisations providing software development services, application maintenance and support services, software testing and business process management operations across many verticals such as healthcare, finance & accounting, logistics, staffing, payroll and others. We position ProHance both as a service on the cloud and on-premise deployment. Our USP is 'Ownership of Outcome' wherein we engage with customers to create demonstrable business impact through ProHance analytics, trainings, productivity workshops & support.
How has the business performed in the past four years of operations?
The first two years of inception were spent on platform development and product engineering. Over the past two years we have added more than 40 customers who have significantly benefitted from services offered by us. We are now in a phase where scale and growth have become relevant. We have stepped on the gas and are poised to drive growth aggressively. We have also been honoured in Washington DC in 2011 as part of IDG's Computerworld Honours Program for innovation in its product engineering. Also, we were one of the four promising and innovative start-ups chosen for mentoring by NASSCOM in 2012. We have broken even in our fourth year and are positioned well at scaling up operations.
What are your future plans?
We are in discussions with large enterprise customers to adopt our solutions by demonstrating proof of value to them. This will also help us achieve high inorganic growth. We are also enhancing our product capabilities by introducing extensions such as power management, software license management, desktop analytics & automation modules. Our vision is to be present in at least 20 countries in the next two years. We are targeting a revenue turnover of USD 20 million by end of financial year 2015.