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Mindtree co-founder Rostow Ravanan is all set to start SaaS Company

Mindtree co-founder Rostow Ravanan is all set to start SaaS Company

Rostow Ravanan, one of the co-founders of Mindtree, has decided to float his own venture in the software as a solution (SaaS) space. Mindtree was taken over by L&T recently. This has made him start his own venture. The startup will be run by Ravanan himself and he is also the prime investor. He still owns a small portion of the equity in Mindtree, of 0.69%. He says he may sell these shares to raise the funds for the SaaS startup.

As per the recent reports, he is not looking for a partner or any external source of investment at this stage of the venture. With a rise in SaaS sector, Rostow has indicated that the company which he is all set to start will be primarily focusing on manufacturing and healthcare. This would be a departure for Ravanan himself as Mindtree was all pureplay software development.

Looking at the overall market for SaaS, it could currently worth around $ 1 billion. Major Indian players like Zoho and global players like Salesforce and Zendesk will be giving tough completion to any new startups. But RostowRavanan is confident enough to start his new venture and he has said that he will be revealing more about the company and his primetime investors and partners very soon.


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