Vaave

Vaave Foundation Story

Vaave is a startup from India that helps institutions connect with their alumni. The idea behind Vaave is simple yet powerful: to leverage the alumni network for the benefit of both the institution and its former students. Here’s how it all began.

Vision and Early Days

The vision of Vaave was born out of a personal experience. Paresh, one of the co-founders, saw the potential of his school's alumni in improving the school's infrastructure. He realized that if all alumni contributed a little, they could make a big difference. This idea grew into a mission to connect every school and university with its alumni.

Paresh and Sanjeev, the other co-founder, met while working with an NGO called Bhumi in Hyderabad. They discussed the idea, and Sanjeev was immediately on board. Together, they started Vaave to transform the education system by reconnecting institutions with their alumni.

The early days were challenging. Sanjeev personally visited hundreds of educational institutions and met thousands of academicians to understand their needs and challenges. They had to educate the schools on how to engage their alumni and wait for six months to sign up their first institution.

Founding Team Background

The founding team of Vaave consists of Paresh and Sanjeev, who are the MD and CEO respectively. Paresh is an alumnus of NITIE with over 11 years of experience in building web applications. Sanjeev, although a dropout from IIIT-H, has 8+ years of experience in sales and strategy.

Later, they were joined by Yasaswy, the Sales Head, who is a VIT alumnus with 8+ years of experience, and Jaipal Reddy, the Head of Finance & Operations, who has worked with ICICI. Srichandana Nagoji, an IIT Kharagpur and Teach for India alumna, is the Chief Happiness Officer.

The team's diverse background and experience have been crucial in shaping Vaave's success. Their collective effort has helped in building a robust platform that caters to all the needs of alumni and institutions.

Vaave Business Evolution

Vaave has come a long way since its inception. From bootstrapping to raising angel investments, the company has grown significantly. Here’s a look at its business evolution.

From Initial Concept to Current State

Vaave started as a bootstrapped company, with the profits from their services business invested into building the platform. Once they gained their first few customers, the team focused solely on Vaave and stopped providing other services.

In 2014, Vaave raised angel investment from Utthishta Yekum Fund, followed by small investments from friends, family, and clients. The last round of investment was in August 2016, and they are planning to raise a pre-Series A round.

Today, Vaave serves more than 800 institutions across India, including prominent ones like the University of Mysore, IIT BHU Varanasi, and Visvesvaraya National Institute of Technology Nagpur[1]).

Key Growth Milestones

Vaave’s growth has been steady and promising. Here are some key milestones:

• In 2014, Vaave started with a revenue of Rs 4 lakh from the product[1]).
• By the end of 2015, their revenues rose to Rs 23 lakh[1]).
• They are expecting a threefold increase in revenues for the year 2016-17[1]).
• Vaave has successfully launched its first international network for Global e-Schools and Communities Initiative (GESCI) in Africa[5]).
• They have also launched their integrated mobile app and are in negotiations with several corporates to build their alumni networks[5]).

Product Portfolio Expansion

Vaave’s product portfolio is comprehensive and designed to meet all the needs of alumni and institutions. Here are some key features:

• A complete database management solution[1]).
• An events module to organize reunions and alumni meets[1]).
• A funds module to raise funds from alumni[1]).
• A mentorship module to involve alumni in student development[1]).
• A jobs and internships module to connect alumni with employment opportunities[1]).
• An online merchandise store and a mobile application[1]).

The network can be launched in just a week, and Vaave provides round-the-clock support to its customers[1]).

Vaave Technology Infrastructure

Vaave’s technology infrastructure is robust and well-structured, ensuring smooth operations and high security. Here’s an overview:

Core Platform Architecture

Vaave’s platform is designed to be user-friendly and efficient. It includes a complete database management solution, which helps institutions manage their alumni data effectively. The platform also features various modules such as events, funds, mentorship, and jobs and internships, all of which can be accessed through a mobile application[1]).

The architecture of the platform allows for quick deployment, with the network being launched in just a week. This flexibility and scalability have been key to Vaave’s success[1]).

Security and Compliance Framework

Vaave takes security and compliance very seriously. The platform is designed with robust security measures to protect sensitive data. While specific details on their security framework are not provided, it is clear that Vaave adheres to industry standards to ensure data integrity and confidentiality[1]).

The compliance framework ensures that Vaave meets all regulatory requirements, providing a secure environment for institutions and their alumni to interact[1]).

Innovation in its Industry

Vaave has been innovative in the way it connects institutions with their alumni. By providing a comprehensive platform that includes various modules, Vaave has set a new standard in alumni networking. Here are some ways Vaave is innovative:

• Integrated Mobile App: Vaave’s mobile app allows alumni to stay connected on the go[5]).
• International Expansion: Vaave has expanded its services internationally, including a network for Global e-Schools and Communities Initiative (GESCI) in Africa[5]).
• Corporate Alumni Networks: Vaave is also venturing into corporate alumni networks, with plans to launch networks for companies like Qualcomm India[5]).
• Quick Deployment: The network can be launched in just a week, making it a quick and efficient solution for institutions[1]).
• Round-the-Clock Support: Vaave provides continuous support to its customers, ensuring that any issues are resolved promptly[1]).

These innovations have made Vaave a leader in the alumni networking space, helping institutions leverage their alumni networks effectively[1]).

Company Market Impact

Vaave, a startup from Hyderabad, India, has made a significant impact in the market by focusing on alumni engagement and recruitment solutions. Here’s how they have grown and expanded their influence.

User Base Growth

Vaave has seen substantial growth in its user base, particularly among educational institutions and corporations. The platform's ability to manage alumni relations effectively has attracted a wide range of clients. For instance, Vaave's customer base includes companies with 100-249 employees, 20-49 employees, and even smaller organizations[7].

Vaave's user base includes various educational institutions and corporations. Here are some key sectors:

• Education: Many schools, colleges, and universities use Vaave to engage their alumni.
• Management: Companies in the management sector also benefit from Vaave's alumni engagement tools.
• Engineering: Engineering firms are another significant user group for Vaave's services.

The platform's ease of use and comprehensive features have made it a preferred choice for these sectors.

Market Share Expansion

Vaave has been expanding its market share in the HRMS (Human Resource Management System) category. Although it competes with larger players like Indeed, Trello, and NetSuite, Vaave has carved out a niche for itself in the alumni engagement and boomerang hiring space[7].

Vaave's market share expansion is evident from its growing customer base across different geographies.

• India: Vaave has a strong presence in India with 452 customers, making up 93.20% of its HRMS customer base.
• United States: Vaave also has customers in the United States, with 15 customers, which is 3.09% of its HRMS customer base.
• France: Additionally, Vaave has 4 customers in France, accounting for 0.82% of its HRMS customer base.

This geographical spread indicates Vaave's ability to serve clients globally.

Financial Inclusion Initiatives

While Vaave's primary focus is on alumni engagement and recruitment, its solutions indirectly contribute to financial inclusion by helping organizations reduce recruitment costs. For example, Vaave's boomerang hiring program can save companies up to two-thirds of the cost associated with hiring new talent[8].

Vaave's financial inclusion initiatives are more about cost savings for its clients.

• Reduced Hiring Costs: By rehiring former employees, companies can avoid extensive sourcing, screening, and interviewing processes.
• Lower Onboarding Costs: Boomerang employees are already familiar with the company's culture and processes, reducing the need for dedicated onboarding resources.
• Minimized Bad Hiring Expenses: The familiarity and prior vetting of boomerang employees reduce the uncertainty and costs associated with bad hires.

These cost savings can be significant for organizations, especially in the current economic climate.

Company Financial Journey

Vaave's financial journey is marked by steady growth and strategic financial management.

Revenue Growth Story

Vaave has shown a promising revenue growth story since its inception. As of the latest data, Vaave has achieved $500K in TTM (Trailing Twelve Months) revenue, indicating a strong financial performance[6].

Vaave's revenue growth is a testament to its effective business model.

The company has been able to generate significant revenue through its SaaS-based alumni engagement solution.

• Subscription Model: Vaave's revenue is primarily generated through subscription fees from its clients.
• Client Acquisition: The company's ability to acquire new clients across various sectors has contributed to its revenue growth.
• Retention Rates: High client retention rates also play a crucial role in maintaining and increasing revenue.

Path to Profitability

Vaave's path to profitability involves optimizing its operations and expanding its service offerings. By focusing on cost-effective solutions like boomerang hiring, Vaave helps its clients save money, which in turn, enhances its own profitability[8].

Vaave's path to profitability is driven by its innovative solutions and efficient operations.

The company aims to maintain profitability by:

• Enhancing Existing Services: Continuously improving its alumni engagement and recruitment tools.
• Expanding Service Offerings: Introducing new features and services to cater to a broader client base.
• Cost Management: Ensuring that operational costs are kept under control while delivering high-value services.

Investment Rounds and Valuations

While specific details about Vaave's investment rounds and valuations are not readily available, the company's growth and market impact suggest that it has likely attracted significant investment. This investment would be crucial for further expanding its services and market reach[6].

Vaave's investment journey is important for its growth and expansion.

Although specific details are not available, here are some general points about investment rounds and valuations:

• Funding Rounds: Startups like Vaave often go through multiple funding rounds to secure capital for growth.
• Valuation: The valuation of Vaave would be influenced by its revenue growth, market share, and the potential for future expansion.
• Investor Confidence: Positive market impact and financial performance would likely attract investor confidence and further investment.

Company Strategic Partnerships

Vaave's strategic partnerships are crucial for its growth and service enhancement.

Banking Collaborations

Vaave does not have publicly disclosed banking collaborations, but such partnerships could be beneficial for integrating financial services into its alumni engagement platform. For example, collaborations with banks could facilitate easier payment processing for subscription fees or other financial transactions related to alumni events[6].

Banking collaborations can enhance Vaave's services.

Here are some potential benefits of such collaborations:

• Streamlined Payments: Easy and secure payment processing for clients.
• Financial Services: Offering additional financial services to alumni, such as loans or investment advice.
• Joint Promotions: Collaborative marketing efforts to reach a broader audience.

Merchant Partnerships

Vaave could benefit from merchant partnerships to offer exclusive benefits to its alumni network. For instance, partnerships with merchants could provide discounts or special offers to alumni, enhancing their engagement and satisfaction[7].

Merchant partnerships can add value to Vaave's services.

Here are some ways merchant partnerships could benefit Vaave:

• Exclusive Offers: Providing alumni with special discounts or offers from partner merchants.
• Enhanced Engagement: Increasing alumni engagement through these exclusive benefits.
• Revenue Generation: Potential revenue streams through commission-based partnerships.

Technology Alliances

Vaave's technology alliances are key to its service delivery and innovation. For example, integrating with HRMS systems like Indeed, Trello, or NetSuite can enhance the functionality of Vaave's platform and provide a more comprehensive solution for its clients[7].

Technology alliances are vital for Vaave's innovation and service delivery.

Here are some ways technology alliances benefit Vaave:

• Integration with HRMS: Seamless integration with popular HRMS systems to offer a holistic solution.
• Service Enhancement: Continuous improvement of services through technological advancements.
• Competitive Edge: Staying ahead in the market by adopting the latest technologies and trends.