Enterprise mobility company RapidValue raises INR 25 crores from Helion
RapidValue is one of the leaders from India providing end-to-end mobility solutions and was founded in 2009 by Rajesh Padinjaremadam, Sirish Kosaraju and Rinish K N. The company has today announced a fund raise of INR 25 crores from Helion. RapidValue has offices in Bangalore, Kochi and California, United States, and will use the funds to expand in the US and Europe. RapidValue helps companies migrate their business operations to laptops, tablets and smartphones.
Rajesh and Sirish were with Infosys while Rinish was with Wipro before the trio decided to come together to start up RapidValue. It was back in 2007 when the smartphone was introduced in companies and they realized the potential it held. Bootstrapping in 2009, the company has grown from 3 to over 200 employees in five years. The company has delivered over 350 projects, with 50+ customers worldwide (including Fortune 500 companies). The company has now decided to raise funds to scale quickly and this infusion will help them to achieve it. Rahul Chandra, Managaing Director of Helion and serial entrepreneur Rodney Rogers will join the board of RapidValue.The aim is to grow at 100% y-o-y over the next five years to become one of the largest independent mobility services firms. “This funding will help RapidValue to accelerate our growth and further establish ourselves as one of the leading firms offering end-to-end mobility solutions. We want to expand our team further specially in the US and Europe,” says Rajesh.
Mobility services is expected to be a $32 billion industry in 2018 and by this time, Gartner projects that 70% of mobile workers will use a tablet or a hybrid device that has tablet-like characteristics. Based on another research conducted by Aberdeen group, 63% of leading service organizations feel that investment in mobile tools was a key strategy for improving field service performance. Playing in this field, RapidValue also launched mobile service suite recently.
As a whole, RapidValue has some marquee clients in its portfolio and has also come out with several case studies to make a strong point:
- Mobile Field Service Application- Empowering Field Service Engineers through Oracle E-Biz Platform
- University of Phoenix- Online classroom mobile application
- Brighton- iOS based in store catalog system
- Karmaloop- Mobile commerce
RapidValue was also a part of YourStory’s Startup Jobs Fair where they were able to hire a bunch of talented folks for their Bangalore office. Talking about the event, Sirish had said, “We opened our new office in Bangalore earlier this year and we were looking to expand our RapidValue team. We participated in Startup Job Fair 2013 organized by Yourstory.in. It was a great event attended by unbelievable number of job seekers and start-ups. This event helped us to recruit the right talent for our business development team. We were looking to build the Inside sales team in Bangalore and majority of this team we got from this job fair.” (read more about RapidValue’s office culture)
RapidValue has been able to build a culture of growth and is certainly on track to emerge as a product success story from India.