Happiest Minds achieves annualized run rate of $50 mn and 100+ customers in FY15
Bangalore, India, April 27, 2015: Happiest Minds Technologies, a next generation digital transformation, infrastructure and security and product engineering services company today announced its financial results reporting an annualized run rate of $50 million in 3 full years of operations. It has built a base of over 100 customers and a team of 1450 people specializing in disruptive technologies. Q4 of the financial year was also the first break-even quarter.
In the last quarter, Happiest Minds repositioned its IT Services business unit as 'Digital Transformation & Enterprise Solutions' (DT&ES) after enabling successful digital transformation for many customers, witnessing increased demand for digital transformation services. The company also appointed Sashi Kumar as the CEO & MD to further drive its growth and accelerate innovation in a world of productized services and solutions.
Commenting on the journey, Ashok Soota, Executive Chairman, Happiest Minds Technologies, said “We are on a strong growth trajectory coupled with stellar customer base. Our $ 50 mn revenue rate, 100+ customers base and team size of 1450 are all record levels for an Indian IT Services company in first 3 years from commencement of operations. Our unique message of ‘Happiness’ is resonating well with our people and customers.”
Happiest Minds is also en route to becoming the fastest Indian IT Services Company aiming to achieve $100mn in revenue with a focus on going public within next 4 years.
Sashi Kumar, CEO & MD, Happiest Minds Technologies said, “As traditional businesses are gradually looking to invest further in the direction of Digital Transformation, we at Happiest Minds are developing revenue-enhancing models for our customers. Multiple offerings focused on Agile Infrastructure and modern Enterprise Solutions for Digital Transformation shall be the overarching strategy of Happiest Minds.”
Some of the projects delivered by Happiest Minds in the areas of digital transformation, IoT and Security include:
• Personalization using big data analytics for leading home improvement retailer;
• Real-time mobile app analytics using big data and cyber security for a leading Telecom provider;
• Connected IoT gateway solution for US solar energy company;
• Multi-channel transformation for leading European cinema chain;
• Customer management and integrated mPOS application for leading hospitality brand;
• In-vehicle telematics solution for leading semiconductor company;
• Secure, agile, personal cloud oriented nextgen infrastructure management platform for leading tech services provider;
• One of world’s largest cyber security protection, monitoring and management centres for a giant conglomerate.
The testament to Happiest Minds' growing prowess and recognition include:
• Listing on the Inc. India 'Innovative 100' list, along with being anointed the second fastest growing technology company on 'Deloitte Technology Fast 50 India 2014', and also being ranked #13 in APAC 500 by Deloitte.
• CyberVigil (Happiest Minds’ comprehensive cyber security solution platform) becoming the Gold winner of the 2015 Global Excellence Awards in Innovation in Next Generation Security.
• Happiest Minds ranking number 5 pan India by Chestnut Global Partners Employee Health and Wellness Rankings