Redseer Strategy Consultants, a strategy consulting firm, will invest $15-20 million in technology over a period of five years. The company expects technology to be one of the company’s key growth vectors for scaling its business.
The company is looking to scale up its revenues to $100 million in the next five years. Anil Kumar, CEO of Redseer Strategy Consultants, told businessline that in addition to technology, it expects the growth to come from international markets and traditional companies. In FY22, Redseer generated revenues of around $17 million.
Redseer is investing in people, technology and data, and believes the combination of these elements is the way to drive high-quality insights and disruptions for their clients. “Right now, we have a team of 30 data scientists with AI and ML specialties, with a total headcount of 250 people across all of our operations.”
It also recently expanded to Indonesia and has offices in Singapore and the UAE. “We will keep going to new geographies, and believe that we can do well in South-East Asia. Similarly, we also intend to make the Mumbai office bigger,” said the CEO.
Funding
Tech play feeds on funding due to factors such as licences, big data and others that require a significant amount of capital, and it does not always begin paying immediately, noted Kumar.
The investment will be internally funded. “Since we have accumulated sufficient profits over the last 10 years or so, we will power our investments through the balance sheet,” he added.
When asked whether Redseer was looking to raise any funds, the bootstrapped company said: “We are not actively looking at raising funds, but never is too strong of a word.” The company says it has been profitable since it started in 2009.
It attributes its success to being niche and focussed in terms of offering its services. “We concentrate ourselves on working in the consumer and tech space, rather than attempting to tackle many different industries and types of problems.”
It primarily has five business verticals: transactions, strategy business for growth and optimisation related advisory, benchmark (a tech-driven play to find key consumer trends, startup performance), digitisation services for non-startups-traditional consumer companies, and assisting the government with digital initiatives.
Going ahead, “we are extremely confident that technology will offer us a nonlinear growth trajectory”, said Kumar.
Moreover, “we anticipate that traditional companies too will disrupt the market just like start-ups a few years ago. And then there are transactions on which we will continue to double down on”.
