|[May 01, 2014]
Happiest Minds Reports 122% Revenue Growth
BANGALORE, India & PRINCETON, N.J. --(Business Wire)--
Happiest Minds Technologies, a next generation IT Solutions & Services
Company today announced its second year financial results reporting 122%
dollar growth in the year 2013-14 and an annualized run rate of $ 34 mn.
Strong business momentum continued with the company building a base of
79 customers. Out of these, 9 customers are Fortune 500 companies, 9
customers provided $1 million plus revenue contribution and 2 customers
brought in $5 million in revenues.
74% of Happiest Minds' revenue came from disruptive technology projects
validating its focus on these core technologies. The strong customer
base and business momentum is a result of enterprises embracing these
disruptive technologies to implement omni-channel strategies, managing
structured & unstructured data and making real time decisions based on
actionable insights, while ensuring security for data and infrastructure.
Happiest Minds "Smilestones" in year ending
Achieves $ 34 mn run rate, a record for Indian IT Services Company in
second full financial year.
Achieves dollar growth rate of 122% and rupee growth of 149%.
Team size of 1250 persons, also a record.
Launches new disruptive technologies Practice - Internet of Things
Ashok Soota, Executive Chairman, Happiest Minds, said, "I am very
excited about our momentum so far. Our focus on disruptive technologies
which I term as "SMAC plus" has helped customers innovate in their
businesses. This differentiated strategy has enabled us to develop a
wonderful customer base and execute transformative projects. Our theme
of Smart Secure Connected experience powered by "SMAC plus" technologies
is resonating well in the market and providing a platform for future
Vikram Gulati, MD & CEO, Happiest Minds, further added, "As
industries such as Retail, BFSI, CPG, Manufacturing, Hi tech, Media and
Entertainment work towards providing immersive customer experience
across all channels, the need for "SMAC plus" technologies is growing
In accordance with our strategy of introducing newer disruptive
technologies as they emerge, we launched in FY14 a Practice for the
Internet of Things & Machine to Machine Solutions (IoT / M2M).
Some of the projects delivered by Happiest Minds based on the theme of
Smart Secure Connected include:
Personalized Recommendations Engine powered by Big Data Analytics
resulted in increase sales conversations for a Retailer
Improved productivity with Automated Agent Performance Analytics
for a Life Insurance Major
Mobile strategy, roadmap & architecture definition for a
Leading Data & Information Provider
Mobile & NFC based Inventory Management & Ordering system
for a Retailer
Created 360 Degree view of customers powered by Big Data Platform
for a leading publishing company
Reduced revenue leakage using Audit Analytics solution for
Cloud Integration of SaaS (News - Alert) & On-premise application for a
Mobile Centred Transformation for a leading Travel & Leisure
Application migration to a Virtualized Platform for an ICT
Cloud Application Support for a leading Global Education
Managed Services for Network and Security for a leading Media
IPV6 Assessment on Network Infrastructure (LAN /WAN /Wireless
and Network Security)
A significant investment area for Happiest Minds for FY15 is R&D for
developing platforms, solution accelerators and new IP led services.
Having created solid foundation with an experienced team of 1250 people
and 16 global offices, Happiest Minds is on track to become the fastest
Indian IT Services company to achieve $ 100 mn in revenue as it
progresses towards its goal of becoming a Public company.
About Happiest Minds Technologies Pvt. Ltd.
Happiest Minds is focused on helping customers build Smart, Secure,
Connected experience by leveraging disruptive technologies like mobility,
analytics, security, cloud computing, social computing and unified
communications. Enterprises are embracing these technologies to
implement Omni-channel strategies, manage structured & unstructured data
and make real time decisions based on actionable insights, while
ensuring security for data and infrastructure. Happiest Minds also
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.
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 (News - Alert) and Ashok Soota.
For more information, visit http://www.happiestminds.com.
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