Kwench eyes Rs 90 cr revenue, plans to expand overseas

Employee engagement solutions provider Kwench, founded by IIM-A graduates, aims to garner revenues of Rs 90 crore in the next two years.
Backed by angel investors like Google India MD Rajan Anandan and former Genpact President and CEO Pramod Bhasin, Kwench currently serves over 400 companies and manages half a million of their employees through its bouquet of services.
"While there is adoption of tech in business, levels of adoption are low as far as employee initiatives are concerned, it was more individual driven," said Kwench MD & CEO Sunder Nookala.
However, this is now changing as employee retention gains importance and companies look for newer ways to keep employees engaged, he added.

Founded by four IIM-A graduates, the company was incorporated in April, 2008. It launched library services for corporates in the same year, followed by an employee social recognition platform.
It is in the process of launching health and wellness, social learning and international expansion platforms for its clients.

The company currently offers services in seven cities including Delhi-NCR, Bangalore and Mumbai. It is now looking at other large cities as well as international markets like the US.
"This year, we are looking at closing the year at Rs 22 crore but in the next two years, we are confident of clocking atleast Rs 90 crore," he said.

He added that banking and financial services accounts for a bulk of its client base, followed by IT/ITeS, manufacturing, pharmaceuticals and retail companies.
Its clients includes companies like HCL, Whirlpool, ICICI Lombard, WNS, Godrej, Wipro and VMWare among others.
Kwench has over 100 employees and is looking at expanding its team further in the coming year.
"One of our USPs is the gamification of the product. This helps in driving employee interest and increased adoption within the user base," he said.
Besides, the analytics capabilities of the platform allows clients to track and improve the return on investment on their engagement spend.

These engagement programmes include initiatives like allowing employees to share the book they are reading on Facebook and Twitter; offering points for various initiatives and redeeming them for prizes etc.