Cousins ââKrishna Chaitanya, Abhiram Kolli and Balaji kolli in 2016, founded Hyderabad-based Saras Analytics with a vision: to make data a strategic asset for businesses.
âThis requires the deployment of multiple tools, resources with varying skills and a management team committed to data initiatives. However, given the complex nature of the challenge, few companies would claim to be successful in their endeavors except those that are well capitalized. Many don’t even start. We wanted to change this dynamic.
âWe’re building a business that lowers the barriers for businesses of all sizes to become data-driven,â says Balaji, co-founder and chief growth officer.
Years later, Saras Analytics has established itself as a leading data management and predictive analytics company. The startup’s products make it easy for any business to consolidate data into a data warehouse, effortlessly report and analyze data, and synchronize it with the tools on which sales teams rely.
The startup’s products allow analysts and sales teams to work independently, quickly and efficiently, without relying too much on IT or engineering teams.
The products include Datan, a cloud data pipeline with more than 100 connectors. Analysts, data scientists and engineers (data) can use an easy-to-configure interface to replicate data in their data warehouse in minutes and without having to write a single line of code.
The second product, Halo, is an e-commerce analytics and information platform. Powered by Daton, it addresses the unique needs of e-commerce and DTC businesses. Halo is designed to help a business without analysts or analytics teams get end-to-end business intelligence and data activation capabilities.
âOur consulting teams help clients develop their data strategy, implement data quality metrics, stay on top of key metrics, and leverage data to grow,â says Abhiram Kolli, co -Founder and Director of Halo.
Krishna was an enterprise architect at Oracle, focusing on business transformation, data integration, data warehousing and business intelligence. During this time, Abhiram worked as an architect at Credit Suisse, creating data products for investment teams, and Balaji took on several roles in analytics working with Fortune 500 companies before turning to the world of investment. business development and sales.
The trio realized that turning data into dollars was a team sport, and necessary to use different tools and resources with different skills to have any chance of success.
âThe companies we see as data-driven understand these needs, invest in technology infrastructure, and hire the right data team. However, most companies are struggling, âBalaji says.
While a few data-driven companies talk about leveraging machine learning to predict customer lifetime value and churn rate, many struggle to even be informed by data i.e. have their key business indicators automated and provided in near real time so that decision-makers can rely on data rather than instincts.
What happens then? Many companies end up failing to reach their true potential. âWe have seen this dynamic time and time again in our careers as solution architects and analysts, and we felt the need to fill this gap,â said Balaji.
Make the difference
Saras Analytics helps break down the barriers that prevent businesses from becoming truly data-driven. D2C or e-commerce businesses use a lot of SaaS applications, which creates data silos that prevent them from truly understanding business performance and identifying growth opportunities.
âWe faced the same issues as a team of consultants during the first two years of our journey, resulting in repetitive, manual and counterproductive work. We couldn’t find any market solution that solves this problem holistically and decided to create our own, âAbhiram said.
The boot started has now a team of 110 people based in Hyderabad, and growing rapidly. It officially launched its first product, Daton, a year ago and the second product, Halo, a few months ago.
The founders have so far invested around Rs 3 crore in the business.
“Our customer base mainly consists of DTC and e-commerce brands, and the ecosystem of companies that support these brands. Any business that provides an online service is a great fit for our products and services, âsaid Abhiram.
The co-founders say the startup reported annualized recurring revenue of more than $ 2 million in FY21.
âWe are profitable and aim to double our revenues over the next three quarters,â Abhiram said.
The path to follow
Balaji believes the market is huge, amounting to tens of billions of dollars, as innovation in cloud technologies has made it very inexpensive for customers to own their data.
âMany companies have yet to realize this change in the technology landscape, and we believe it is only a matter of time before a whole new set of customers begin to embrace cloud data warehouses. We are already seeing this trend with many of our customers who a few years ago would never have thought of embarking on a data warehousing initiative. Whether a company has a mature analysis team or no analysis team, we have a solution that meets their needs, âhe says.
The data management and predictive analytics startup claims to have more than 100 clients, including Mama Earth, Athletic Greens, Plum Goodness, Candere, Levi’s, Mensa, Tumi, etc.
âA majority of our clients are based in the we, with a few clients in India, Europe, Southeast Asia, and the Middle East. As we expand, we will continue to focus our exit efforts in the United States, India and the Middle East, âsaid Balaji.
The COVID-19 pandemic has disrupted many retail businesses and created an opportunity for new D2C brands and brand aggregators to emerge, forcing traditional retailers to go digital more aggressively.
Saras Analytics claims to have increased by more than 6X in the last year and is “ready for new growth”. The company aims to reach $ 4 million in revenue by the end of this year and acquire more than 250 customers.
Daton competes with Fivetran, Stitchdata, Airbyte, Hevo Data and internal IT teams. Halo’s competitors include Glew.io and Daasity.
âOur differentiation is our ability to support clients at any stage of their journey to become data-driven and at any budget,â said Balaji.
âWe’re looking to end March 22 with $ 4 million in annual recurring revenue (ARR) and seek funding. Until then, if there is any incoming interest, we talk to the VCs, âBalaji says.