TechJockey.com, a growing online marketplace for software solutions, has secured an investment from Indian cricketer Rishabh Pant.
Pant acquired a 2% stake in the company for Rs 7.40 crore, valuing the firm at Rs 370 crore (around USD 44.17 million).
Founded in 2017 by Akash Nangia, a former VP at Zomato, and Arjun Mittal, an ex-McKinsey executive, TechJockey connects software vendors with small businesses across India. Earlier this year, the company expanded its operations into the US, enhancing its global reach.
Pant’s decision to invest in TechJockey was influenced by his experience in professional sports. "In cricket, having the right technology for live streaming, commentary, and DRS is crucial. The right tools help make smart decisions. I’ve seen how software can grow businesses efficiently, so investing in TechJockey made sense to me," Pant explained.
The company’s leadership welcomed Pant’s involvement, with Nangia highlighting the significance of having a cricketer of Pant's stature on board. “It’s not just about his celebrity status; Pant understands business deeply,” Nangia said.
TechJockey plans to use the new funding to scale its marketing efforts and expand its US presence while increasing the number of global sellers on its platform. The company’s SaaS-based approach positions it well for growth, with Nangia noting the rise of SaaS firms and their potential.
In FY24, TechJockey reported a revenue of Rs 125 crore, with Rs 7-10 crore generated from ad sales. The remaining revenue came from margins charged to sellers. The company aims to reach Rs 170-180 crore in revenue in FY25, fueled by Pant’s investment and the global expansion strategy.
TechJockey.com currently offers over 500 software categories, catering to more than five lakh businesses monthly.
(With inputs from agencies)
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