Kwench to raise $4-5 million, with eye on US market

Employee engagement firm Kwench to raise $4-5 million as it looks to enter the US market and double revenue to Rs.50 crore by March 2016.

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The company, which expects Rs.100 crore revenue in the next 24 months, will also expand to the UK, Europe and South-East Asia during this period, co-founder Krishnan Madhabushi said.

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Last month, Kwench received $500,000 as a bridge round from existing angel investors—Google India managing director Rajan Anandan, HCL Technologies Ltd founder member Ajai Chowdhry and Genpact Ltd founder Pramod Bhasin.

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Mumbai-based Kwench was started in 2008 by IIM Ahmedabad alumni Sunder Nookala, Prashant John, Madhabushi and Mitesh Damania.

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“Today, there is a serious fight for talent in the country and companies have realized that they have to go just beyond offering the normal rewards programmes to make efficient talent stay,” said Sumir Verma, managing director at Merisis Advisors.

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