What is the problem your product solves and how big is the space?
One of the most important pillars of the digitisation journey is document digitisation and workflows around document management. Kleeto is a futuristic and intelligent end-to-end information and document solution that delivers services like digitization, management, consultation and storage of documents and information. It is a safe and secure solution, providing unique services like encrypted QR codes and digital signature for your data along with other services like data tracking, retrieval and shredding. Kleeto caters to almost all business departments with its vast range of services like the onboarding/offboarding module, invoice process module etc.
Document management comprises 5 different phases viz. document generation, document collection, document distribution, document consumption and document archival. kleeto manages all phases of document management and in all dimensions (physical and digital documents). Global market size of document management is huge and may run into hundreds of billion dollars.
What made you start this journey and how is it going so far?
That urge to create something new / innovative and something local (India) led us to start this journey. We are a profitable & cash positive company which is growing at 25% with 25%+ profit margins.
If your startup has received funds in the last 9 months: Tell about your recent funding and how it has helped you?
No funding in the last 9 months, last funding round (angel) was in Nov 2015.
If your startup is looking for funds: How is your fundraising activity going so far? What is the kind of feedback you get from investors?
Not at this moment.
Can you give one top customer success story?
We do employee file management service where we also generate compliance reports for employee file status (file complete or incomplete) based on documents stored in the employee file. One of our customers used to do employee file audits for all centres (150+) by making auditors travel to 150 locations once in every quarter. After we digitized their employee files and generated online compliance, auditors involvement was reduced to a few hours and that too sitting in a corporate office with no travel involved.
What do you look for from the Government to help startups?
Lower level of compliance and reporting atleast for first 10 years or till revenue crosses 25Cr. Stricter implementation of MSME policy atleast from payments standpoint
How are you able to attract talent?
Thats difficult - we do not offer best of the salaries but our work culture and environment to learn attracts most of the people we hire
How do you see your organization in the next 3 years?
We would like to be #1 choice for any document management related solution in India. We are working on all solutions that a typical corporate setup would need to manage documents in any form and through any tool at any stage.
As a startup, what are the top 2 challenges you face now?
Hiring & Long sales cycle.
What are the areas that you would like to get mentored?
Growth - exponential growth - how to achieve that.
How do you measure success?
Retention - Customer & Employee.
What is your contribution to society?
Reducing carbon footprint. We are working on automating document creation and management processes so that physical paper printing or photocopying is reduced to minimum.