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Mumbai-based Lyncbiz Corporation, a start-up founded by six ex-Oracle senior sales employees, has raised about $1 million (₹6.5 crore) through angel funding.
The three-month old start-up, in which former Oracle Managing Director Sandeep Mathur is an advisor, is an innovative platform that provides sales teams and solutions to companies, especially SMEs, thus helping them reduce their sales and marketing costs.
Outsourcing of sales team “We are asking small start-ups and several mid-sized IT companies to outsource their sales team to professionals like us and focus on their core business instead. We solve it by bringing innovative solutions in a cost-effective manner to enterprise customers and by trying to solve legacy problems,” Yatin Kantak, founder and CEO of LyncBiz, told BusinessLine .
Kantak, along with the other founders Shalesh Trehan, Nilesh Desai, Deepak Ajmani, Mouthu Kumarasamy and Ashok Bhambhani, is quite upbeat about the growing start-up ecosystem, which will in turn require a huge sales team.
Kantak added that the start-up ecosystem in India is booming with over 800 new companies being set up annually. According to Nasscom, by 2020 there would be approximately 11,500 start-ups. Many of these start-ups in the B2B IT space have great technology, products, or ideas, but face huge entry barriers in terms of access to CXOs in enterprise accounts, hiring and retaining top sales talent, pricing strategies, go-to market models, and thus in scaling up and market coverage. Lyncbiz is trying to solve these problems.
Company strategy “We help the enterprises accelerate time to market and modernise existing organizations’ sales force, by bringing in best global practices,” Kantak said, adding that they want to tap the Middle East market soon. The other plan is to also help global start-ups enter the Indian market and set up offices here.
The company has already bagged a few clients on annual contracts and will be adding more. With the vast opportunity in the start-up ecosystem, Lyncbiz is targeting over ₹150 crore in the next two years.
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