Technology start-up firm Happiest Minds has chalked out its growth plans for the next fiscal.
The Ashok Soota-promoted firm said it is planning to open a second delivery centre in India and will expand its sales offices in Toronto, Continental Europe, Singapore, Delhi and Mumbai.
The Bangalore-based company has customers in Fortune 500 companies in sectors such as retail, hospitality, manufacturing, banking, consumer packaged goods (CPG), travel and transportation. After one year of starting operations, Happiest Minds has bagged 25 customers in these sectors.
Last year, Happiest Minds secured a $45-million Series A funding led by Canaan Partners, Intel Capital, Ashok Soota and other founder members.
The company is seeing an increase in what it calls ‘next gen’ IT projects at a time when its larger peers are facing growth concerns.
Vikram Gulati, Managing Director and CEO, said: “In 2011, we leveraged disruptive technologies like cloud computing, mobility, analytics, social computing and unified communications and today, customers are looking for business benefits and quick results from IT.”
Driven by small deal sizes, acquisitions and focus on niche sectors, mid-size IT companies have outshone their bigger counterparts in the recent quarters.
According to a report by brokerage house Nirmal Bang, good revenue growth, improving client metrics and its strategy of focusing on select verticals and leveraging domain expertise to get clients has paid off for mid- and small-size IT firms.
“Specialisation in verticals like manufacturing, retail and distribution, healthcare, logistics, manufacturing and others have helped mid-size companies to grow,” said Ganesh Natarajan, Vice-Chairman and CEO, Zensar Technologies.