U&Me eyes $10 mn from enterprise mobile messenger

U&Me Plus currently has more than 600 enterprise customers, and has seen over a million downloads

U&Me Communication, a wholly-owned subsidiary of OM Technology, a Malaysia-based technology products company with its development centre in Hyderabad, is expecting its enterprise mobile messaging app U&Me Plus to generate revenues of $10 million by the end of this December, from the current run rate of $2 million.

Launched in November 2014, U&Me Plus combines the features that WhatsApp, Viber and Skype currently offer. Built over the last one-and-a-half years with an investment of $2 million in Hyderabad, U&Me Plus has more than 600 enterprise customers, and has seen over a million downloads on Android, iOS, BlackBerry and Windows marketplaces.

Announcing a strategic partnership with Australia’s Private Equity Gateway to take U&Me Plus to Australian, North American, European Union and West Asian markets, Hamid Rashid, chief operating officer of U&Me, told mediapersons on Tuesday that the company would continue on its momentum in this fast-emerging area of enterprise mobility through new and innovative enterprise lifestyle solutions.

Stating that the industry-agnostic U&Me Plus  platform addresses the enterprise communication needs of verticals like healthcare, education, manufacturing, and banking, financial services and insurance, U&Me chief executive officer Srinivas said the company was targeting to garner at least 1,000 enterprises customers from India by the end of this calendar.

OM Technology is a decade-old company with revenues in excess of $10 million. It specialises in developing credit and collection management solutions.

"As part of the strategic agreement, Private Equity Gateway will pick up some equity stake in U&Me Communication in the next 36 months," Rashid said, while declining to comment further.