TechnoBind Revenues Grow 60%; Eyes New Markets
TechnoBind announced the H1 growth figures. With new vendor tie-ups and expansion of its geographical presence, TechnoBind recorded an impressive 60% growth YoY.
The Bangalore-based ‘specialist IT partner’, TechnoBind saw both organic and inorganic revenue streams in H1 2019. A chunk of its organic growth traction came from Commvault with their Hyperscale appliances, Tintri’s Software Defined Storage solutions and Gemalto’s (Now Thales) solutions for Data Protection. On the other hand, ramp-up of the business of the new sign-ups of the previous year, Microfocus’ operational management and security solutions and Quest’s data management solutions fueled TechnoBind’s inorganic growth.
With an increasing business run rate, TechnoBind has been delivering a consistent YoY growth and gaining a greater market share in the Indian technology distribution market. The renewed GTM strategy with its unique ‘use-case based’ approach has helped the company reach newer heights, the company said in a statement.
H1 also saw the introduction of new alliances in the form of ESET, TeamViewer and SuperMicro. Very close to the end of the half also saw Beyond Trust getting added to the portfolio of solutions at Technobind which will play a big role in the revenue plans for H2 and beyond.
Prashanth G J, CEO at TechnoBind said, “H1 2019 was exceptional for TechnoBind with major vendor signups. The growth results reflect our commitment towards customers and partners. We focus on helping partners solve the business pain points of our customers with the next generation technologies and products and this we believe is adding true value to our stake holders – partners on one side and our OEM vendors on the other. For the partners, we are able to showcase the market opportunities and help lead them into it while for the OEM partners we act as an extended arm helping them in their market penetration strategies.”
With a lot of Digital Transformation projects happening, metro cities still remain the biggest growth engines for Technobind. Recently, TechnoBind has expanded its wings in the Eastern India and Bangladesh regions by adding more resources there. In the near future, TechnoBind plans to penetrate into upcountry markets of South and West. In line with their GTM strategy, they have doubled the pre-sales which is now proven to be best value that can be extended to the field, it said.
“Our TechnoBind team shares a strong culture of value creation for the channel partner ecosystem. Our improvised GTM coupled with the distribution of innovative products aligned with latest disruptive technologies, has contributed to our strong position in the market place”, added Prashanth.
The company, with a key focus on data and data-driven solutions, has marked its presence in verticals like enterprise, manufacturing, BFSI, SMB and government. TechnoBind offers consulting services for organizations to help them focus on reducing costs, mitigate risk and improve productivity along with maximizing returns on investments. The company has a presence in Mumbai, Delhi, Chennai, Hyderabad, Kolkata, Pune, Nepal, Bangladesh and Singapore.