Scaling platform for growth-stage startups xto10x Technologies has raised US$25 million in its Series A financing round led by Flipkart’s co-founder Binny Bansal. The round also saw participation from 28 founders and senior leaders from the startup ecosystem in India and Southeast Asia.
xto10x will be using the funding to ramp up its three core activities- software tools, learning programs, and operating capabilities, which will enable growth-stage startups to scale their operations.
“Our experience over the past two years has shown us that founders are really looking for support to grow fast and build enduring companies. 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,” said Saikiran Krishnamurthy, Co-Founder, xto10x Technologies.
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.”
xto10x Technologies was founded in 2018 by the co-founder of Flipkart, Binny Bansal, Neeraj Aggarwal (Ex-Flipkart and Cure.Fit), and Saikiran Krishnamurthy (Ex-Mckinsey, Flipkart and Ola) with the vision of helping startups scale into world-class organizations.
The Bengaluru-based startup offers Software-as-a-Service(SaaS)-based solutions, operative services, and learning programs to the startups.
Presently more than 100 startups are using xto10x Technologies’ software tools- 10xPeople (eNPS), 10xGoals (OKRs), and 10xPerformance (performance management). The company claims that 7 out of 24 companies from their 10xAcademy founder’s program have become unicorns.
In the past two years, xto10x has worked with more than 200 growth-stage startups across India and Southeast Asia. In 2021, xto10x Technologies had acquired Dockabl, a SaaS-based HR-tech startup to expand their employee performance platform.