Route Mobile Aims To Be a Market Leader In North America & Europe As part of its expansion strategy, the company is coming up with potential products in Artificial Intelligence,Gen AI and blockchain to combat emerging cyber security threats
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Route Mobile, a Communications Platform as a Service (CPaaS) company, has plans to expand geographically with a high focus on North America and Europe. "We aim to capture a significant market share in the North American CPaaS market and establish a dominant presence in key European markets. We look forward to solidifying our leadership in existing markets," said Rajdip Gupta, MD & Group CEO, Route Mobile Limited.
The potential in emerging markets is still underutilized. The company aims to extend its leadership position by focusing on key metrics like customer retention rate, market share growth and average revenue per customer. "We are bullish on the growth of CPaaS products in these markets and will double down on extending our leadership position in emerging areas,"Gupta added.
What came up as an opportunity to address secure and immediate transaction communication – fueled the vision for Route Mobile –using the latest technology to create communication solutions that help enterprises interact with their customers in a secure and trusted environment. "As mobile technology progressed, we saw the potential for a broader revolution in business communication. Fast, secure messages delivered directly to phones was the game-changer. This vision for a future of secure and reliable cloud-based communication solutions is what truly defines Route Mobile today," the CEO explained.
Route Mobile aims to expand its product portfolio by integrating the latest technologies such as Generative AI (Gen AI) and blockchain into its CPaaS offerings and increasing its digital identity solutions. With the rise of the Internet and rich messaging, the number of channels now available for enterprises to communicate with their customers has increased multifold. Understanding this need, the company expanded its product portfolio to provide an omnichannel communications platform that includes SMS, Email & OTT channels (WhatsApp, Telegram, RCS). "With more online and Internet-centric customers, there was a need for a better customer experience, which led to the development of AI-powered chatbots," Gupta said.
Internet-based transactions saw massive growth in the last decade. This growth also created a potential for fraud, such as SIM swap fraud, identity theft, Phishing, etc. In order to combat these, the company developed digital identity solutions to empower businesses to verify and authenticate customers across multiple channels to build trust and streamline transactions.For operators, the company addresses potential fraud via messaging by developing blockchain solutions. These technologies help detect and block real-time SMS fraud and phishing attempts in their tracks. "We're actively exploring how blockchain technology can seamlessly integrate, ensuring the best possible protection for our customers," he said.
The company's solutions are industry-agnostic and are used across BFSI, retail, e-commerce, logistics, healthcare, hospitality, travel, etc. The digital native segment, comprising Edtech and Technology companies, generates the highest revenue. The second in line is the FinServ companies that offer digital communication solutions for banking, insurance, and payment gateways. Third would be e-commerce industries driven by the increasing use of communication APIs that enhance customer engagement, along with Tier 1 CPaaS partners across the globe.
"We create industry-specific solutions and solve critical problems in some of our target industries. We are developing specialized CPaaS offerings to address critical communication challenges in specific sectors. As we are part of the Proximus Group, we'll explore synergies with companies like Telesign and BICS to further enhance our product portfolio and market reach," he added.
In July 2023, Proximus Group signed a definitive agreement with the founding shareholders of Route Mobile to acquire 57.56 per cent of Route Mobile through Proximus Opal for INR 59,244 million cash consideration, which corresponds to a price per share of INR 1,626.40 . Over the past years, Proximus Group already built up a significant presence in the CPaaS and digital identity markets. Recently, the total shareholding of Proximus Opal in Route Mobile stands at 82.70 per cent.
