GoodWorkLabs: Making Great Strides

1) Founders

Sonia Sharma quit her job with the Boston-based start-up Aveksha in March 2013 to start GoodWorkLabs. Her husband, Vishwas Mudagal, joined in as the co-founder in October 2014, by when the company had started growing rapidly.

2) Big idea

An IT products firm that works with start-ups and Fortune 500 companies for their technology requirements - whether in design or product development - to help them build big data, mobile apps, web platforms or any other technology product. The start-up mainly serves businesses in the realms of e-commerce, education, telecom, big data, machine learning and AI.

3) Backers

Bootstrapped. Sharma's husband Mudagal initially put in `25 lakh as an angel investor.

4) Rivals

IT outsourcing firms such as Robosoft and HappiestMinds.

5) What sets them apart

"We are a products company in a service industry," says Sharma. Most IT services firms lack product building skills; they treat their offerings as a service instead of product, she adds. GoodWorkLabs' emphasis on design thinking and problem-solving is the differentiating factor that is helping them grow.

6) Milestones

GoodWorkLabs earned a revenue of Rs 8.5 crore in financial year 2015/16.

In 2014/15, its revenues tripled to Rs 2.7 crore compared to the previous financial year after it added customers such as Flipkart, Mercedes Benz, SAP, Unilever, Myntra, EkStep, SesameStreet, and Medtronic, among others, to its clientele.