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Mumbai-based global sales management consulting firm LyncBiz Corporation is looking to partner with early- stage Indian start-ups to help them access customers in global markets over the next 12 months.
The company has started identifying and shortlisting pre-Series A and Series A start-ups offering horizontal solutions that are relevant across industry segments. Only start-ups that have reached a certain level of maturity, with a product or service that sells in at least one market with a paying customer base, will make the shortlist.
Incorporated in 2015 by former Oracle India senior sales professionals, LyncBiz connects Indian start-ups with new customers in Indian and international markets, and helps global Cloud companies enter new markets such as India.
“We are in the process of identifying and selecting 6-7 early-stage Indian start-ups which offer easy-to-use solutions that can be used by the high-potential, small and medium business sector in the US. These SMEs in the US are largely underserved and represent a $100-billion opportunity for SaaS (software-as-a-service) that Indian start-ups can sell to,” Sandeep Mathur, Managing Director of LyncBiz Corporation and former Managing Director of Oracle India, told BusinessLine .
He said price realisation for products and services of Indian start-ups is 10x times more in the US than in India.
“The start-ups we are selecting are those with solutions in the areas of mobile/e-commerce, predictive marketing, security and data analytics. In return for advising start-ups on product pricing and packaging, formulating sales and go-to-market strategies, and also selling to global customers with our own sales resources, we charge start-ups a fee and take an equity stake in them as well.”
Expansion plansLyncBiz will open its international offices in the US, West Asia and Asia Pacific over the next three months.
Asked about fund-raising for the international expansion, Mathur said: “We have raised $1million in angel funding and have money in the bank to fuel the expansion.”
The firm has facilitated the entry of several international firms such as Claned and SafeGuard. Finnish firm Claned’s Cloud-based AI and real-time learning analytics platform is being used by Hyderabad-based education firm WhiteBoard, to provide maths and science foundation courses for students of class 6-10. US- headquartered SafeGuard World International, a global payroll company, has also signed up to serve five Indian customers, through LyncBiz.
The company’s revenue in FY2017 stood at $300,000. Mathur is aiming to close this fiscal with $1.5 million in revenue.
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