BWI: Happiest Minds Achieves Annualized Run Rate of $20 Million

Press release from Business Wire India
Source: Happiest Minds Technologies Pvt. Ltd.
Wednesday, April 24, 2013 12:30 PM IST (07:00 AM GMT)
Editors: General: Consumer interest, People; Business: Accounting & management consultancy services, Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst, Information technology; Technology
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Happiest Minds Achieves Annualized Run Rate of $20 Million


Bangalore, India and New Jersey, United States, Wednesday, April 24, 2013 -- (Business Wire India) -- Sets a record for IT Services growth in first full financial year Every employee received shares at the same price as founders

Happiest Minds Technologies, a next generation IT Solutions & Services company today announced its achievements for the first full financial year 2012-13 that closed at the annualized run rate of $20 million. Focusing on disruptive technologies as its core strategy, Happiest Minds now has 45 customers across US, UK, India, and SE Asia.

Ashok Soota, Executive Chairman, Happiest Minds, said, "We are off to a great start and our current annualized run rate has set a new benchmark for the IT services industry in its first full financial year. Our unique message of 'Happiness' is resonating well with our people and customers".

Vikram Gulati, MD & CEO, Happiest Minds, further added, "Our market and customer momentum validate our strategy of focusing on disruptive technologies. From startups to Fortune 500 organizations, we have been able to leverage technologies like cloud, mobility, analytics, social computing, security and unified communications across industries to create business value for our customers."

Milestones Achieved in the first full Financial Year

-- Builds team of 800 + people- also a first year record for an Indian IT Services company

-- Global Customer base of 45, also a first year record

-- Opened second delivery facility in Bangalore, 14 offices globally

-- Introduced Engineering R&D services Division


Some of the projects delivered by Happiest Minds to deliver business impacting solutions include,

-- Mobility solutions for one of the largest retailers resulting in better in-store customer experience.

-- Mobile application developer kit for a leading consortium of Telecom Majors resulting in increased developer participation.

-- Analytics and Big Data solutions for a leading online travel portal to provide deeper understanding of customer preferences and behaviours.

-- Reporting and Big Data solutions for a multi-modal Customer Experience solutions provider resulting in increased visibility of customers

-- Social and Gamification solutions for a leading consumer products company resulting in increased user engagement.

-- Learning platform development for a leading education company to reduce their time-to-market

-- SaaS platform for an Employment Assistance Programs solution provider to reach a larger audience and increase adoption

-- IP risk assessment and Business activity monitoring solutions for an innovative clean renewal energy provider

-- End to End Managed infrastructure and security services for a leading news media delivered from secure cloud

-- Ipv6 Transformation for a Large Service Provider

Jonathan James, CIO, TMF Group said, "It was hugely important to us to appoint a strategic IT partner that could provide specialist support for TMF Group in over 75 countries. After evaluating multiple providers worldwide, we chose Happiest Minds". He further added that, "We are already delighted by their enthusiasm and ideas and firmly believe their expertise will help us achieve our goals of becoming the world's leading provider of business services".

Having set a solid foundation, Happiest Minds is on track to achieve a long term goal of becoming a public company and fastest to achieve $100M.

About Happiest Minds Technologies Pvt. Ltd.

Happiest Minds was launched in August, 2011 by Ashok Soota and a team of industry experts, with the mission to create Happiest People and Happiest Customers. Happiest Minds is a next gen IT solutions & Services Company, enabling organizations to capture the business benefits of disruptive technologies of cloud computing, social media, mobility solutions, business intelligence, analytics and unified communications. Happiest Minds offers high degree of skills, IPs and domain expertise across a set of focused areas that include IT Services, Product Engineering Services, Infrastructure Management, Security, Testing and Consulting. Happiest Minds focus industries include Retail, CPG, Technology, Banking, Financial & Insurance Services, Travel, Hospitality& Transportation, Manufacturing and Media & Entertainment. Headquartered in Bangalore, India, Happiest Minds has operations in the US, UK, Singapore and Australia. It secured a $45 million Series A funding led by Canaan Partners, Intel Capital, Ashok Soota and supported by its founders. For more information visit www.happiestminds.com

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CONTACT DETAILS
Salil Godika, Happiest Minds Technologies, Salil.godika@happiestminds.com
Vijay Vinjimoor, Gutenberg Communications, Vijay@gutenbergpr.com

KEYWORDS
CONSUMER, PEOPLE, CONSULTANCY SERVICES, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst, IT, TECHNOLOGY

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