Happiest Minds Achieves Annualized Run Rate of $50 Mn and 100+ Customers in FY15

BANGALORE, April 27, 2015 /PRNewswire/ --

Records 56% Revenue Growth With Robust Team of 1450 Experts in Disruptive Technologies 

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.

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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."

Happiest Minds "Smilestones" in year ending March 2015 

• Achieves $ 50 mn run rate
• Has strong customer base of 100+
• Happy people strength of 1450

All above are records for Indian IT Services company in three years from start. 

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

About Happiest Minds Technologies 

Happiest Minds enables digital transformation for enterprises and technology providers by delivering seamless customer experience, business efficiency and actionable insights through an integrated set of disruptive technologies: big data analytics, Internet of things, mobility, cloud, security, unified communications, etc. Happiest Minds offers domain centric solutions applying skills, IPs and functional expertise in IT services, product engineering, infrastructure management and security. These services have applicability across industry sectors such as retail, consumer packaged goods, e-commerce, banking, insurance, hi-tech, engineering R&D, manufacturing, automotive and travel/transportation/hospitality.

Headquartered in Bangalore, India, Happiest Minds has operations in the US, UK, Singapore, Australia and has secured $ 52.5 million Series-A funding. Its investors are JPMorgan Private Equity Group, Intel Capital and Ashok Soota.

For more information, visit http://www.happiestminds.com.

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Media Contacts:
Lavanya Dhulipala / Sanchita Choudhary
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SOURCE Happiest Minds Technologies Private Limited