2014 TiE50 Company Profile

  
Company: Crayon Data Pte Ltd.
Location: 17, Phillip Street,, #05-01 Grand Building, Singapore, Singapore, Singapore - 048695
Website: http://crayondata.com
 

Overview:

Crayon Data was founded with the vision of “simplifying the world’s choices”.

Headquartered in Singapore, this 18-month startup is one of the fastest growing firms in the global big data arena. Founded by successful serial entrepreneurs, Crayon Data is building a SimplerChoicesTM platform for global enterprises and their consumers. The SimplerChoicesTM platform is a Choice Engine, built on the foundations of a revolutionary Taste Graph (currently over 600 million individual cross-category tastes, targeted at B2C enterprises), and a Business Interest Graph (currently over 500 million data points, from more than 2.8 million enterprises worldwide, targeted at B2B enterprises).

(Background)
In 2013, two serial entrepreneurs identified a global dilemma: with more product options, why are enterprises and consumers feeling increasingly dissatisfied? Why are traditional enterprises unable to engage consumers the way internet-age companies do? It was then that Srikant Sastri and Suresh Shankar decided to take on the challenge of “simplifying the world’s choices”. 

Over the years, these two former business school classmates with a 30 year friendship, have built an impressive record of successful exits in the industries of marketing and digital media, temp staffing and enterprise analytics, which were courted and acquired by global names such as Publicis, Randstad and IBM. 

In building the core team, the homework-swopping duo was later joined by a former CTO of Wipro, Ivaturi Vijayakumar (affectionately known as IVK), Vivek Ravindran (a successful entrepreneur in his own right) and Raghuram Muthkrishnan, a seasoned banker with more than 20 years of regional experience. Their team was further enhanced by many younger ex-colleagues and others who jumped at the chance to build something revolutionary.

The founding team recognised that around the world, self-directed search has given way to guided choice as the driver of customer-centric products and solutions. This is also a behaviour acknowledged in the much-reported developing international strategies of Yahoo and Google.

So Crayon Data built SimplerChoicesTM as the solution: delight consumers with the relevant options, and guide them to make more satisfying choices! 

With the SimplerChoicesTM Choice Engine, Crayon brings Amazon-like algorithmic power to traditional enterprises. The Crayon Choice Engine collects and curates widely available information created by consumers and businesses, and combines them with proprietary enterprise data. 

As the team likes to say: the best form of product validation is a paying customer—and they have lots of that! Crayon Data’s SimplerChoicesTM has been deployed across different geographical markets and industries, including the hospitality, financial and retail sectors.

With each client validation, Crayon has built a solid business portfolio with a global reach. In less than two years, Crayon Data has clients in the United Kingdom, Asia Pacific, South Asia, Middle East and the ANZ regions. 

The company is reaching a monthly revenue run-rate of over S$250,000, and an expected monthly run-rate of S$750,000 (by late-2014). Crayon Data’s client list includes several well-regarded “blue-chips”, and the company has progressed from paid Proof-of-Concepts (PoCs) to annuity contracts of increasing value. 

Crayon Data is well-funded through three rounds of seed and institutional angel investment. The next chapter is a planned entry into US and European markets in the second half of 2014. 

The company has also attracted a strong multi-cultural team of world-class talent (>75 strong in Singapore, Chennai and London). We count some of the best in the field as colleagues, those with experience in renowned organisations such as McKinsey, INSEAD, WIPRO, IBM, GE, and Deutsche Bank; as well as graduates from Stanford, Duke, University of Bath, NUS, NTU and the University of York.

In recognition of these achievements, Crayon Data stood out as the only Asian company shortlisted for the Code_N innovation awards at CEBIT 2014. This award list highlights “50 of the hottest startups driving the data revolution”. The finalists were selected from more than 450 entries across 60 countries. 

For more information on Crayon Data, please visit http://www.crayondata.com.

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