OLOID's Bold Leap: $6 Million to Transform Workplace Security in India
October 24, 2024, 9:30 pm
Location: Haiti, L'Artibonite, Charlotte
Employees: 10001+
Founded date: 1906
Total raised: $100M
Location: United States, California, Sunnyvale
Employees: 11-50
Founded date: 2018
Total raised: $23M
OLOID is on the move. The Sunnyvale-based company has just secured $6 million in Series A1 funding. This cash infusion is a lifeline, a rocket booster for its ambitious plans. Led by Yaletown Partners, with support from Exposition Ventures, the George Kaiser Family Foundation, and Carya Ventures, this funding brings OLOID's total Series A and A1 haul to a staggering $23 million. The company is not just sitting on this money; it has its sights set on India.
Why India? The answer is simple. India is a treasure trove of talent. OLOID aims to tap into this resource to bolster its engineering and product teams. The goal is clear: enhance its touchless access control platform. This platform is not just a product; it’s a promise of seamless security. With multi-modal biometric authentication, OLOID is set to revolutionize how organizations manage access and identity.
In a world where security is paramount, OLOID's approach is refreshing. It offers touchless, passwordless solutions. These are not just buzzwords; they represent a shift in how businesses think about security. The traditional methods are cumbersome and often lead to vulnerabilities. OLOID’s technology integrates with existing HR and IT systems, creating a unified security framework. This means organizations can upgrade their security without major disruptions. It’s like changing the tires on a moving car—challenging but necessary.
The company has already made waves. It boasts a client list that includes heavyweights like Flex, Tyson Foods, and Honeywell. These partnerships are not just endorsements; they are a testament to OLOID's effectiveness. Since its Series A funding, OLOID has seen a jaw-dropping 600% surge in revenue. It’s a clear signal that the market is hungry for innovative solutions.
OLOID's ambitions don’t stop at revenue growth. The company is eyeing a 200% increase in 2024. This is not just a number; it’s a goal that reflects confidence in its technology and market strategy. The company is targeting hundreds of enterprise clients, each offering significant annual contract values. The potential for a 10-15X return on investment for customers is a compelling proposition. It’s like planting a seed and watching it grow into a towering tree.
The leadership at OLOID is equally impressive. Mohit Garg, the CEO, is steering the ship with a clear vision. Under his guidance, OLOID is not just a tech company; it’s a pioneer in identity management solutions for deskless workers. This demographic is often overlooked, yet they are the backbone of many industries. By focusing on this group, OLOID is filling a critical gap in the market.
The company’s recent partnership with Workday is another feather in its cap. Achieving Workday Certified Integration status means OLOID can offer customers a streamlined experience. This integration connects Workday Human Capital Management and Time Tracking with the OLOID Time Clock. It’s a win-win for businesses looking to enhance their operational efficiency.
But what does the future hold? OLOID plans to hire over 100 new employees by 2025. This expansion is not just about numbers; it’s about building a robust team that can drive innovation. The focus will be on engineering and product development in India. This strategic move is about leveraging local talent to enhance global initiatives.
In a world where security threats are evolving, OLOID is positioning itself as a leader. The need for modern security solutions is more pressing than ever. Organizations are looking for ways to protect their assets without sacrificing efficiency. OLOID’s technology offers a path forward. It’s a bridge between the physical and digital worlds, ensuring that security is not just an afterthought but a fundamental aspect of business operations.
As OLOID embarks on this journey, it faces challenges. The competition in the workplace technology space is fierce. However, with its innovative solutions and strategic partnerships, OLOID is well-equipped to navigate these waters. The company’s commitment to enhancing workplace security is unwavering. It’s not just about making a sale; it’s about creating a safer environment for all.
In conclusion, OLOID's recent funding round is more than just a financial boost. It’s a declaration of intent. The company is ready to make its mark, particularly in India. With a focus on innovation, talent acquisition, and strategic partnerships, OLOID is poised for success. The future looks bright, and the journey has just begun. In the ever-evolving landscape of workplace security, OLOID is a name to watch.
Why India? The answer is simple. India is a treasure trove of talent. OLOID aims to tap into this resource to bolster its engineering and product teams. The goal is clear: enhance its touchless access control platform. This platform is not just a product; it’s a promise of seamless security. With multi-modal biometric authentication, OLOID is set to revolutionize how organizations manage access and identity.
In a world where security is paramount, OLOID's approach is refreshing. It offers touchless, passwordless solutions. These are not just buzzwords; they represent a shift in how businesses think about security. The traditional methods are cumbersome and often lead to vulnerabilities. OLOID’s technology integrates with existing HR and IT systems, creating a unified security framework. This means organizations can upgrade their security without major disruptions. It’s like changing the tires on a moving car—challenging but necessary.
The company has already made waves. It boasts a client list that includes heavyweights like Flex, Tyson Foods, and Honeywell. These partnerships are not just endorsements; they are a testament to OLOID's effectiveness. Since its Series A funding, OLOID has seen a jaw-dropping 600% surge in revenue. It’s a clear signal that the market is hungry for innovative solutions.
OLOID's ambitions don’t stop at revenue growth. The company is eyeing a 200% increase in 2024. This is not just a number; it’s a goal that reflects confidence in its technology and market strategy. The company is targeting hundreds of enterprise clients, each offering significant annual contract values. The potential for a 10-15X return on investment for customers is a compelling proposition. It’s like planting a seed and watching it grow into a towering tree.
The leadership at OLOID is equally impressive. Mohit Garg, the CEO, is steering the ship with a clear vision. Under his guidance, OLOID is not just a tech company; it’s a pioneer in identity management solutions for deskless workers. This demographic is often overlooked, yet they are the backbone of many industries. By focusing on this group, OLOID is filling a critical gap in the market.
The company’s recent partnership with Workday is another feather in its cap. Achieving Workday Certified Integration status means OLOID can offer customers a streamlined experience. This integration connects Workday Human Capital Management and Time Tracking with the OLOID Time Clock. It’s a win-win for businesses looking to enhance their operational efficiency.
But what does the future hold? OLOID plans to hire over 100 new employees by 2025. This expansion is not just about numbers; it’s about building a robust team that can drive innovation. The focus will be on engineering and product development in India. This strategic move is about leveraging local talent to enhance global initiatives.
In a world where security threats are evolving, OLOID is positioning itself as a leader. The need for modern security solutions is more pressing than ever. Organizations are looking for ways to protect their assets without sacrificing efficiency. OLOID’s technology offers a path forward. It’s a bridge between the physical and digital worlds, ensuring that security is not just an afterthought but a fundamental aspect of business operations.
As OLOID embarks on this journey, it faces challenges. The competition in the workplace technology space is fierce. However, with its innovative solutions and strategic partnerships, OLOID is well-equipped to navigate these waters. The company’s commitment to enhancing workplace security is unwavering. It’s not just about making a sale; it’s about creating a safer environment for all.
In conclusion, OLOID's recent funding round is more than just a financial boost. It’s a declaration of intent. The company is ready to make its mark, particularly in India. With a focus on innovation, talent acquisition, and strategic partnerships, OLOID is poised for success. The future looks bright, and the journey has just begun. In the ever-evolving landscape of workplace security, OLOID is a name to watch.