This tech start-up offers solutions in employee performance management

The New Delhi-based start-up, Dockabl, recently closed its pre-series A funding round at $1.26 million

Work pressure, lack of performance, participation avoidance, and inability to meet challenges were making Niti Roy anxious about her work life at an IT company.

Having taken cognizance of the damage these issues were causing to Roy and other employees, her company collaborated with B2B SaaS start-up Dockabl, which provides an application for employees to manage their work, development plans and conversations around performance.

The New Delhi-based start-up recently closed its pre-series A funding round at $1.26 million. Aditya Berlia (Apeejay Group of Companies), Ritesh Malik (Guerrilla Ventures) and a few others participated in this round.

Founded by Samarth Masson and Sanjeev Grover in 2017, Dockabl is one of the few firms in the B2B SaaS space in India which seek to make bureaucratic work life easier for working professionals.

The tech start-up offers solutions as software (Dockabl Enterprise) to HR departments in the employee performance management space to various organisations, including Tata Realty, SIDBI, Policybazaar, Innov8, 91Springboard, Becton Dickinson and Bajaj Capital. 

The employee experience space in India is in its nascent stage and is gradually picking up the pace. According to a report by Google and Accel Partners, India is likely to become a $10-billion revenue industry with 8 per cent share of the global SaaS market by 2025. To gain a competitive edge in this sector, Dockabl aims to tap into about 0.5 to 1 per cent market share in the next five years. 

Dockabl currently has over 30 companies as subscribers. It has global competitors like Reflektive, Betterworks, Lattice and 15five to name a few.

“As a tech start-up, we are not focusing on profitability, but investing in growth and products. In the next two years, we hope to become profitable. We’re also planning to launch Dockabl Enterprise 2.0 and Dockabl plug & play by 2020,” said co-founder Samarth Masson. The firm plans to expand across Singapore and southeast Asia and the US.

Talking about the business and revenue model, Masson said the start-up has a subscription fee-based pricing framework which generates revenue through its B2B product (Dockabl Enterprise); another revenue stream is channel partners, including Deloitte, AON and PebbleRoad which sell their products to businesses. The third revenue stream will be Dockabl plug & play by 2020 in the B2C space.

About the challenges, Masson said: “In B2B domain, the sales cycle becomes very long in dealing with HR heads and we will try to overcome that with the launch of Dockabl plug & play software which will be sold directly to the employees”.

“In terms of Indian market potential, we aspire to be a $10-million company in five years. By the end of FY20, we want to generate $1 million in revenues and in the next five years, we hope to achieve $50 million in revenue globally,” said Masson.