What Sold Investors on Apty
But while Aptly now focuses on optimizing online performance of some big-name companies, one investor says Apty's Founder and CEO Krishna Dunthoori’s hard-working attitude is what impressed him.
"We were very impressed with Krishna as a bootstrapping, repeat entrepreneur in a space in which he has a decade head start delivering superior client-focused solutions to a blue-chip customer base," said Reformation Partners'sManaging Partner Jim Hao.
Reformation Partners has and is primarily interested in funding forward-thinking companies like EDEN, which offers workspaces for those tired of work-from-home employment arrangements, Curist, which ships off-brand allergy medicine directly to doorsteps, and software distribution company Intello.
Apty, Hao believes, is another one of these forward-thinking companies and aims to “make Apty synonymous with the digital adoption megatrend.”
Firas Raouf, co-founder and general partner at Companyon Ventures, said that Apty was unique in its understanding of the need for accessibility in business technology and for a company to help these large businesses facilitate these processes.
"What most impressed us is Apty's complete understanding of how large enterprises struggle with digital transformation and the challenges their employees face in conforming to complex business process workflows," he said.
This understanding, and the resulting opportunities afforded by this new funding, has given Apty the potential to rise to a prominent place in the digital adoption platform market.
The Wider Digital Adoption Platform Market
The market which Apty belongs to is becoming a larger one as well. In 2018, the digital adoption platform market was valued at $43.11 million. By 2027, according to Absolute Market Insights, that market is expected to grow at a yearly rate of more than 15% to reach a valuation of nearly $163 million.
One of the most timely drivers of the adoption of these technologies is the coronavirus, which left nearly every American worker outside of first responders and other “essential” workers working from home. Since the platforms can be taught remotely, management of the company’s software and infrastructure can continue to be taught and monitored.
This sort of training is critical to the operation of businesses that are operating at what is often a reduced capacity and can help ease the transition from in-person teaching and instruction to efficient remote work.
One thing that has the potential to make the transformation into digital business management difficult is the fact that technology is constantly changing, and workers will have to update their knowledge with it.
According to Digital Adoption, digital adoption platforms help facilitate the change by performing micro-training on the job continually. This cumulative learning strategy allows workers to keep up with changes in software and infrastructure as well as learn crucial new skills for their respective industries’ digital management.
Globally, these benefits are anticipated to lead to huge value gains. According to the website Business World, worldwide digital transformation program spending is estimated to reach $2.3 trillion in 2023.
“This implies that organizations that are still on the fence about investing in technology to support digital transformation will soon do so,” the website says. Because of the pandemic’s impact on the global workforce, they predict that “it will be critical to invest in digital adoption platforms to embrace every aspect of the digital tools available at their disposal.”
The digitalization of business is clear, and accommodating it from small mom and pop shops to international corporations is essential. The technology that helps these companies do just this will play a crucial role in this move, and companies like Apty are leading the charge.
About the Author
Elijah Labby is a graduate of the National Journalism Center. He has previously written for Broadband Breakfast, a technology and internet policy website.