Fulcrum Digital, an IT solutions provider to companies in the food services and BFSI space, is targeting acquisitions in the $15-20 million range once it crosses a certain revenue threshold, the company’s chief executive said.
“This year, we are focusing on our internal structure and once we reach $65-70 million (in revenue), we would look at acquisitions in the $15-20 million range,” Rajesh Sinha said, without specifying a timeline for the buyouts.
Fulcrum is targeting revenues of $100 million by 2022, he said, which is more than double the projected $40-45 million revenue target for 2019. In 2018, the company’s revenues stood at $25 million.
“We expect half the revenues to come from our platform, Fulcrum One, and another half from recreating or customizing the platform for customers,” Sinha said.
FulcrumOne, a ready-to-use digital platform, provides companies with end-to-end solutions for various parts of the business instead of sourcing components individually.
Companies in the insurance, finance, education and food services space use the platform currently.
“The platform has both horizontal and vertical components, like the cloud, IoT, mobility and predictive analytics, and can be customized as per the specific vertical,” he said. “This makes it possible to roll out the platform within eight weeks as against the eight to ten months it would take if you’re building it from scratch.”
The company is also putting in place a new executive team as part of its push to grow the business.
Former Zensar CEO Ganesh Natarajan has come on board as executive director, while Krishna Ramaswamy, who was earlier with Cognizant and Zensar, has been appointed the managing director for India.
“I’ve joined the board of the company to help create a roadmap for the firm. We’re creating a new board structure and defining the metrics for the team,” Natarajan, who is also the founder of startup consultancy, 5F World, said.