On track for $100 mn revenue run rate by Q4 FY19; IPO in FY23: Happiest Minds

Happiest Minds Technologies, founded by former Mindtree chairman Ashok Soota, today said it is "on track" to reach USD 100 million annualised revenue run rate by the fourth quarter of this financial year.

Founded in 2011, the company plans to launch its initial public offering in FY23.

The company, in a statement, said it has witnessed all-round growth during the first quarter of FY19.

The company has bagged multiple deals during the quarter, including a large media and entertainment company and a 'smart' water solutions provider, it added.

"Happiest Minds is on track to reach an annualized USD 100 million run rate by Q4 FY'19. The company plans to launch its IPO in FY'23 and in the interim provide a monetisation event for investors/team by FY'20," it said.

Headquartered in Bangalore, Happiest Minds has operations in the US, UK, The Netherlands, Australia and Middle East.

"We are excited at the strong quarter results and credit goes to all the business units, Centres of Excellence (CoEs), geos, practices and enabling functions for their contributions," Happiest Minds Technologies Executive Chairman Ashok Soota said.