Technologies, a scaling platform for growth-stage startups, has raised $25 million in its Series A round led by Binny Bansal. The round also saw participation from 28 founders and senior leaders from the startup ecosystem in India and Southeast Asia.
The Bengaluru-based startup will use the fresh capital to ramp up three core activities – learning programmes, software tools, and operating capabilities – which will enable growth-stage startups to scale operations.
xto10x Technologies was founded in 2018 by Binny Bansal, Co-founder, Flipkart; Saikiran Krishnamurthy, Ex-McKinsey, Flipkart, and Ola; and Neeraj Aggarwal, Ex-Flipkart and Cure.Fit. with the vision of helping startups scale into world-class companies.
Flipkart co-founder Binny Bansal
Commenting on the capital raised, Shashank Kumar, Co-founder at Razorpay, one of the investors and also a client said, “xto10x is the only institution that provides systematic support to founders looking to scale up from Series A/B to unicorn and beyond. We have found the xto10x offerings extremely relevant in our own journey of building a high-growth and durable organisation at Razorpay.”
The company offers learning programmes, operating services, and SaaS-based solutions for startups. Over 100 startups use xto10x’s software tools - 10xGoals (OKRs), 10xPeople (eNPS) and 10xPerformance (performance management), the company says.
“Doing deep operating work with startups and converting that experience into software tools and learning curriculum has helped us build strong momentum, driving 4X growth in the past year. In fact, xto10x is already a profitable company,” added Saikiran Krishnamurthy, Co-founder, xto10x Technologies.
In 2021, xto10x had acquired SaaS-based HR-tech startup, Dockabl to expand their employee experience platform. xto10x has worked with 200+ growth-stage startups across India and Southeast Asia in the past two years.
xto10x says 24 companies from its 10xAcademy founders’ programme are now unicorns. Software tools help companies retain talent by improving their employee Net Promoter Score. And a strong team of operating leaders and mentors from best-of-breed startups such as Flipkart, Cure.fit, Swiggy and Amazon help these new-age firms build robust operating capabilities.
Edited by Affirunisa Kankudti