Historically, companies were supposed to buy and build their own IT infrastructure. Today, they don’t have to bear that load because of SaaS. Now they can simply plug in and use the services on the shared infrastructure through the internet. Not only it has made easy for big companies but small and medium sized companies are also benefiting from it. Although, SaaS has made things easy and cost effective, what if we were to get services offered by Basecamp, Trello, Pipedrive, BambooHR and HubSpot, in just one suite? To solve the problem and make things easier for companies/businesses to manage, TeamWave came into existence.
“Teamwave is an integrated suite of business applications, applications like CRM, Project Management, HRIS, Invoicing, Analytics & Contact Management, kind of things that small/medium businesses need,” said one of the founders Shuhaib Shariff. TeamWave is a product of Doublespring, an agency that does custom services like web application development, mobile application development etc. Shuhaib stated that DoubleSpring basically has a customer base in North America and that TeamWave was built for them to make their work easy, rather it turned out to be a product.
DoubleSpring was founded by Shuhaib Shariff and Shabeer Ayar. Shuhaib has over 12 years of experience in marketing, sales, product development, user experience design and startups, While Shabeer has worked with companies like Tony Harris, Wipro, genesis, FireEye etc.
Monetisation & Traction
When asked about the monetisation plans, Shuhaib said, “Right now monetisation is not our priority and when we do get to a point of scale, at that time we’ll roll out a premium version of the same.” Now this premium version will include Marketing automation, integrations like GitHub and Slack. The normal version will be available for free for startups to use.
TeamWave is currently being used by over 2,000 companies and its user base is around 20,000, Shuhaib stated.
The product is currently being bootstrapped by the company. When asked if they are looking to raise funds, Shuhaib said, “We’re not looking to raise funds now, but six months down the line, yes.” He also claimed to have been approached by an investor but the company is currently content till the point of scale.
Watch Shuhaib Pitching TeamWave
Competition & Market
TeamWave does not have any horizontal competitors. Startups like freshdesk, clickdesk, Recruiterbox, etc offer one service or the other and act more as vertical competitors to TeamWave.
Gartner predicts high rates of spending on cloud services in India will continue through 2019 when the market is expected to reach $1.9 billion. According to its latest cloud adoption survey, 61% of respondents in India indicated that they are currently using cloud services, and additional 31% plan to use cloud services.
That’s not it, according to a survey conducted by thousands of IT professionals at Forrester Research, came to a conclusion that companies are now turning to SaaS products as a way to get rid of applications like HR and CRM.