Moveinsync targets new geographies and end-to-end transport solutions

Sneha Basu received her dream offer letter from one of the largest MNCs in Delhi. She was planning to stay with her relatives in the city but there was a roadblock — the relatives stayed almost 20 km from her workplace.

Sneha’s new HR manager came to the rescue, assuring her about the company’s pick and drop services for employees which was not only controlled from a centralised system but  ensured that women employees received special security during pick and drop. Her new employer, like many other MNCs in India, had subscribed to MoveinSync’s staff transportation services that help companies efficiently and safely arrange employee transport.
 

MoveInSync, recently raised $8 million (Rs 520 million) in a Series B round, led by homegrown venture capital firm Nexus Venture Partners and existing investorsInventus Capital Partners, Saama Capital and Qualcomm Ventures.

“We are impressed by MoveinSync’s platform and its significant impact on customers and their employees. Office commute offers huge potential for innovation by leveraging technology to significantly improve efficiency and employee experience,” said Anup Gupta, managing director, Nexus Venture Partners.

MoveInSync claims its flagship employee transportation solution (ETS) for employee transport management, which is offered as a service (software as a service or SaaS), helps track employee cab usage records, provides automated billing with reduced discrepancies and carries safety features for women passengers.

Operation model

The company offers its services to 50 companies, including Google, Facebook, Amazon and Microsoft, and their services are used by around 200,000 employees across 19 cities. 

MoveInSync has recently launched its operations in Sri Lanka. 

It has recorded 100 per cent year on year growth for four years, covering 350 million km via 16 million trips spread across 173 office locations in India 

last year.

“It’s a subscription model. Presently our presence is strong across the technology sector. We are also targeting manufacturing and pharmaceutical sectors,” said Deepesh Agarwal, co-founder and CEO of MoveInSync.

According to Agarwal, there is a requirement for similar staff transportation services across countries like the Philippines, South Africa and large parts of South-east Asia — top on the  company’s expansion plan.

While the top line is an important criterion, MoveInSync sees employee usage as a primary metric to measure growth. The services are charged on per employee per month usage basis and cost an average of $3.

Challenges Ahead

“Over the past three to four years, we have been growing 100 per cent and in the long-run, it is important for us to continue growing at this rate,” said Agarwal.

A key challenge Agarwal sees for the company is the requirement for strong metrics to meet the needs of a largely Fortune 500 clientele that MoveInSync is currently servicing.

The company is keen on leveraging their technology platform to encompass not just the big companies and their employees but also the service provider ecosystem of drivers and cab providers.

MoveinSync plans to invest the fresh funds in three areas — first, making the technology-based service as cost-effective and efficient as possible; second, expanding the company’s footprint in the regions mentioned above.

“Finally and most importantly, we want to provide end-to-end transport services where we provide the technology, cab as well as the management services, something that we have already started doing for a number of clients,” added the co-founder.

Fact Box

• Founded: 2009
• Area of business:  Corporate transport services 
• Funding: $12 million since seed (disclosed)
• Investors:  Nexus Ventures, Inventus, Saama and Qualcomm Ventures
• Long-term milestone:  Manage end to end transport services for MNCs across sectors
• USP: Technology backed transport rostering and routing services