Experion Technologies Poised to Double in Revenue and Headcount by 2027 The story delves into how Experion came into existence and its fast growth trajectory thereafter to become one of the leading players in the product engineering domain

In 2006, a twelve-member company in Thiruvananthapuram managed by two people in Europe was struggling to grow. Binu Jacob, an IT executive in a software company with a background in the Indian Air Force, saw the potential to transform this tiny company.

Along with four other founders, Jacob envisioned to build a global leader in software technologies with a focus on software products. The company was rebranded as Experion Technologies and the five-member founding team laid out the roadmap for its growth. The founding team decided to be engaged in the day-to-day operations in their chosen areas of expertise.

Sreekumar Pillai, CTO, took ownership for technology and product development; Manoj Balraj, President, moved back to America to incorporate the US entity and focus on the business strategy of enhancing revenue growth through product development opportunities; Suresh Panicker took care of operations and enabling functions while Jaimy Thomas focused on service delivery and engineering excellence.

In 2008, as the global financial crisis impacted the global economy, the founding team identified an opportunity to pivot towards emerging and disruptive technologies. "Experion ventured into phone-based applications before smartphones became popular. Despite their innovative edge, these products faced operational challenges and ultimately failed but it left a culture of innovation and agility that defined Experion's future. The founders had cultivated a product-led mindset. The key was to explore how to harness them for growth. The answer was found in product engineering services," said Jacob.

By 2010, Experion completely focussed on product engineering helping clients transition from product concept to prototypes and MVPs and roll out digital software products. "We always focussed on developing technologies. We have always been very keen to find out what new is coming to market. We always lead the market with new technology and therefore our focus on product engineering," said Jacob.

"The story went from local to global at this point as Experion began winning more new opportunities from early stage companies and mid-sized corporations. With the first set of international clients in the bag, the founding team saw the potential to invest into product engineering as it was clearly beginning to scale," said Jacob.

Between 2014-18, the company delivered several product engineering engagements and developed a more robust delivery model. Experion benefitted from the digital transformation wave enterprises were going through during this period.

"Today, Experion Technologies stands as a testament to its founders' vision and perseverance to build a solid product engineering services company that has competed with some of the world's largest players in this space winning large, multi-year product engineering and digital transformation contracts from Fortune 500 companies," said Jacob.

Currently, Experion is on a fast growth trajectory aiming to double in revenue and headcount in the next three years by 2027. From about 1,650 employees, it plans to touch 3,000 before 2027 as well as double its topline to about USD 100 million. Much of this growth is driven by the digitalization wave where enterprises are investing in emerging technologies to stay relevant in a competitive business environment.

For Experion, the US is the largest market (65 per cent) followed by Australia (17 per cent), and UK (15 per cent). "We recently entered Japan through an acquisition. So, Japan, India, and others are smaller markets under Rest of the World," said Jacob.

In terms of verticals, Experion is focussed on five key verticals: Retail, Transport, Healthcare, BFSI, and Edtech. Asked about the global tech spend, Jacob said that while there is a slowdown in traditional IT services like maintenance, clients continue to invest in areas of digital transformation which is the focus of the company.