GoodWorkLabs is one of the leading new-age outsourced product development (OPD) firm and UX design studio. It is focused on helping Fortune 500 companies and start-ups alike to design and build robust products, be it mobile apps, software or games.
Team started in 2013 with the objective of becoming a powerhouse of innovation in technology and design for clients globally, and focused primarily on providing mobile technology solutions. By growing at a rate of 500% year-on-year, the start-up is poised to become a global leader in the ‘innovation outsourcing’ space. GoodWorkLabs has several marquee clients and partners, which include Flipkart, Apple, Samsung, CommonFloor, Hindustan Unilever, Sesame Street, ST Dupont and Avaya among others. GoodWorkLabs is headquartered in Bangalore, with offices in San Francisco Bay Area, USA, and Kolkata.
Finding and hiring the right kind of talent was the biggest challenge the start-up faced. It’s ‘the’ most critical factor as it makes or breaks the company’s growth.
THE EUREKA MOMENT
GoodWorkLabs was founded in 2013 by Sonia Sharma, MD and Co-Founder GoodWorkLabs and was backed by Vishwas Mudagal, as the first investor. The firm took off really well, and Vishwas joined GoodWorkLabs as the CEO in October 2014. Together, they scripted a success story that surpassed everyone’s expectations, including their own.
With team strength of over 80 people, GoodWorkLabs is currently the default choice of Fortune 500 companies and cutting-edge startups globally to design and develop innovative and high-quality products.
Their focus was always to be a top of the pyramid player catering to the best brands in the world to build world-changing products and designs. Today, for example, GoodWorkLabs is the only company in India to be nominated for the International UX Design Awards by IDZ Germany, which speaks volumes about their quality and innovation. Earlier this week, the firm has won the Deloitte Fastest 50 award in India for their rapid growth.
ABOUT THE FOUNDERS
Vishwas Mudagal: Vishwas Mudagal is a successful serial entrepreneur, CEO and a No.1 best-selling author. He started his first company, Infovision Computer Academy at the age of eighteen to educate rural students in North Karnataka, where he was responsible for training several hundred students over a period of three years.
Sonia Sharma: Sonia Sharma completed her Bachelor of Engineering in Computer Science from UIIT in 2004. Prior to hopping on to the entrepreneurial bandwagon by founding GoodWorkLabs in 2013, she gained rich corporate and startup experience working with Arcot Systems (bought over by CA) for 2 years and Aveksa (bought over by EMC) at Bangalore.
REVENUE TRACTION AND GROWTH
Initial Capital was funded by Vishwas Mudagal (CEO) (Rs. 25 Lakhs) and the start-up achieved a growth of 500% in the first financial year itself. Initial revenue was of USD $0.5 million in 2014-15, which grew on to become five-fold to USD $2.5 million in 2015-16 and going strong. So, it can be safely said that GoodWorkLabs is one of those companies which is boot strapped, self-sustained and is very profitable.
USP AND MODUS OPERANDI
Their USP is the design thinking. The start-up has an in-house UX design studio and seasoned design team which help them develop solutions which not only have aesthetic value, but are also easy-to-use. In short, GoodWorkLabs specializes in building the coolest UX and UI for mobile and software products. The best companies in the world have hired GoodWorkLabs to design the UX and visual design of their products, apps, and games.
In parallel, their strength further comes from the fact that they understand hard core technology product development that is managed using agile software development processes and extreme programming. Most products they build impact millions of lives and shape the future of technology and industry—this is what makes GoodWorkLabs a great company.
Here’s the DNA and this is what the company stands for –
- Beauty: Everything they do has to be beautiful, easy-to-use, and efficient. Aesthetic and practical design is the core of their work. And attention-to-detail, the bottom line principle. Their UX Design Studio is credited with creating products that reimage the future.
- Scalability: Every piece of technology they build has to be tough, bug free, optimised and scalable.
- Agility: Everything they craft is done iteratively with passion, love and honesty. They are always ready to take feedback from the market/users and change their course to bring out the best possible product that will succeed in the market.
- Innovation: They believe in questioning the status quo. They believe in pushing the limits. They believe in changing the world through technology and design.
REVENUE MODEL AND FUNDING
Start-up broadly has four business units that run independently and have focused roadmap and growth targets. These are –
- Mobile Apps division
- Software Products division
- Gaming division
- UX Design Studio
They help companies, startups and entrepreneurs design and build products. They charge them to custom-build solutions. Start-up has long term contracts, where in the clients pay them on a monthly basis for the team deployed for the client. They also charge on project basis for the UX / UI design in their UX Design Studio.
GOODWORKLABS FUTURE PLANS
The team will be launching GoodWorks Mobility shortly. What’s amazing about this launch is that they already have successfully signed up marquee clients for pilots and have further tied up with industry biggies (Fortune 500) to take their product to the market with several partnerships. That’s super validation that the product will succeed because they have been very practical in their approach and worked with clients to make it better
GoodWorkLabs is striving to become the global leader in the innovation outsourcing space as it continues to take up complex technology and design work on outcome basis for customers worldwide. Early next year, the team will set up their 2nd international office in Europe. The team intends to scale while keeping their DNA intact. Read more Startup News.
Want to be a guest author? Register Here to share your business knowledge with our readers.