Epiance aims to double revenues to $ 15 mn in 2005 Sunday, December 12 2004 14:29 Hrs (IST) - World Time
Bangalore:
Epiance Inc, a product software firm with venture capital guru Pramod Haque as an investor, aims to double revenues to $ 15 million in 2005 by pushing globally its software that helps organisations map performance of employees on real-time working on legacy software.
The US-based Epiance is aggressive with its platform agnostic product "Epiplex" that helps firms to monitor and improve processes on existing business application software.
"Our product is simple but does complex work in mapping productivity of people in an organisation," Epiance co-founder and president (engineering), R Ravi told sources in Bangalore.
He said the firm, which plans to close this year (2004) with revenue of $ 7 million to $ 8 million aims to double its income to $ 10 million to $ 15 million in 2005.
"We are expanding very aggressively," Ravi said, adding, the over 100 member team in the Bangalore R&D unit have built the software product and its tele-sales team would focus on marketing the patent-pending product to the US market.
Pramod Haque's Northwest Venture Partners has invested $ 7.5 million this May for a 25 per cent equity stake in Epiance, which boasts of a customer list that includes Merrill Lynch, Aetna, Toyota, Nippon, Microsoft, IBM, General Motors and Morgan Stanley.
"We are tapping for business from firms which have high customer focus," Ravi said, adding, that several BPO firms in India are doing pilots on Epiplex.