How Oases Technovations Pvt. Ltd. CEO Surendra Varma grew Oases Technovations Pvt. Ltd. to $858K revenue and 113 customers in 2024.

guys engage.work is your full Suite HR tool especially if you're based in NDS surrender is growing quickly eight thousand dollars a month in Revenue a year ago now twenty thousand dollars a month in Revenue he's been very Capital efficient just a hundred thousand dollars in a pre-seat around raised where he sold 20 to two angels his team is 44 today 15 Engineers five quota carrying sales reps as they look to scale to be your Again full applicant tracking system payroll management the full life cycle of your employees he'll help you manage it hey folks my guest today is Surendra Varma he's a HR professional with 20 years of experience in the field he's worked extensively in HR policy design automation strategic HR business partnering and all sorts of roles he's now building mgauge dot work that's the URL it's a smart virtual HR management platform all right surrender you ready to take us to the top oh yes yes nothing thanks a shooey think of you like an applicant tracking system no it's not an application tracking system so it's a virtual smart uh manager virtual manager with basically does anything or everything post recruitment so it primarily takes care of things right from onboarding there will be separation piece so primarily something which an HR operation you know guide us right from say helping you to onboard right people getting the induction then managing leave attendance employee helped as query management you know payroll confirmation processes appraisal coordination and the suppression management is is something so you're more you're more like remote.com then it's your full stack start to finish got it got it I see okay give me the back story when did you launch the company what year so B so I've been I've been into entrepreneurship for for almost 10 started with the recruitment firm which was primarily a Services form engage we started in 2018 because uh you know my my first half of career has been working with a lot of carpets website growing organization and being a Founder as well as being HRI realized that there are common problems that every organization goes through uh specifically all the startups and msme right most of these companies either 70 of msmes do not have their own HR department right Mr Andrew I just want to let me just stay focused on your story for a second so you you have a service you have a surface consulting company you launch the software in 2018. fast forward to today uh what are what's the average customer paying you per month or per year to use the technology it's uh if I talk about uh you know INR it is 1.2 lakh per per annum and if we convert that into USD it's it's something around uh around twelve thirteen thousand dollars per annum and so if someone's paying you thirteen thousand dollars per year how many employees are they managing on your platform yeah so currently we are managing more than 12 000 employees across how many companies this stays across 130 customers wow okay um and and walk me through go back to 2018. did you also get your first paying customer in 2018 or did it take you a year or two so we got uh we launched our product in 2018 beginning and we got our first paying customer in middle of 2018. how did you get that customer tell me that story so it was it was basically a friend who was facing a challenge then you know the person the the friend didn't had so he was running an I.T company and he didn't tell any child department and he knew me because they were working together in the last organized Anita said I mean why don't you you know help us in terms of you know managing the entire HR department I really don't want to hire someone full time to manage because I really don't need someone to be full-time and that's how the whole story began yep that makes sense okay so you you onboard him and then um is your only pricing model charging per number of employees managed on the system or is there some other metric you charge on no it is it is per employee per month the number of employees that we manage on the platform okay so 12 000 employees across 113 customers that pay on average thirteen thousand dollars per year that would mean your monthly recurring Revenue today is about 135 000 per month is that about right uh so I'm saying uh you know 13 000 per annum okay yep so so 113 customers times thirteen thousand dollars per year would be 1.6 million annually divided by 12 would be 135 000 per month is that accurate um not really so we probably in terms of when I talk about our mrr is is around 20 000 USD per month oh what's going on there YouTube good to see you guys now imagine this you love watching these interviews with SAS Founders but imagine if we took all of the valuation data out from over 2807 interviews I've done manually saves you a lot of time well we've done this we've built the into the beautiful interface inside of founder path check this out I'll show you how you can access this in a second but you log in you connect your 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products click on get your valuation here and go ahead and sign up to give it a whirl again all that valuation data live right inside the platform I hope to see you there all right let's jump back into the interview okay so which of the which of the metrics are wrong either your average ACV is wrong or your customer account is wrong no so well I I assume that uh you know Revenue use this expert lifted ROM so so uh yeah so if I go back and check it out so it's going to be uh it's not 13 000 it is going to be 1300 1400 I see yeah USD that makes sense so you have 113 customers paying something more like a hundred and fifty dollars per month or one thousand three hundred dollars per year right right okay that makes sense so if you're at twenty thousand dollars a month today in Revenue where were you exactly one year ago do you remember so we were we were almost uh 8 000 USD per month uh 12 months back that's great so where's the growth coming from from today you told us about your first customer how did you get how are you getting customers today what's your growth Channel so so our GPM is primarily you know focused in terms of uh talking to Founders right and uh you know we have uh an inbound so we do a lot of content marketing we publish a lot of knowledge articles around uh the HR challenges faced by startups Founders in msme and and that's how we primarily try to kind of uh you know give lot of uh insight about how HR needs to get managed uh so a lot of a lot of LinkedIn marketing a lot of a lot of email campaign we reached out to a lot of Founders uh what's your favorite LinkedIn tool for LinkedIn marketing so it's a sales Navigator primarily to reach out to the right people yeah that makes sense and how many folks are full-time today on your team so we are close to 44 people team 44 people okay wow and are you only servicing I know with remote.com they actually have legal entities in every country and then they're they're in the employee of record but that's a lot of work are you only working with companies that are hiring employees in India or can someone use you if they're hiring and paying employees in Canada and London and all over the world right so we have customer base so primarily it is focused on India but you do have couple of customers I would say three percent of our customers having an office in multiple law you know geographies or multiple countries and what's your model are you the eir the employee of the employer of record yeah so we it's like so if you understand peo which is professional Emperor organization market...