Binny Bansal’s xto10x Raises $25 Mn From Bansal Himself And 28 Others

SaaS-based consultancy startup xto10x, which helps growth-stage startups scale, has raised $25 Mn in its Series A round led by its cofounder Binny Bansal.

The round also saw participation from 28 founders and senior leaders from the startup ecosystem in India and Southeast Asia. For example, Razorpay’s Shashank Kumar also participated in the round, among others, the startup said in a statement.

The funds will be used to ramp up its learning programs, software tools and operating capabilities; thus, enabling growth-stage startups to accelerate their scale-up journeys.

The Series A round follows xto10x’s acquisition of HR tech startup Dockabl for an undisclosed amount in September 2021. The acquisition enabled xto10x to scale platforms such as 10xGoals (OKR strategy to execution platform) and 10xPeople (employee sentiment analysis and engagement platform).

Bansal founded xto10x Technologies in 2018, along with fellow former Flipkart executives, after his exit from the ecommerce company, Flipkart. Bansal was joined by Saikiran Krishnamurthy (Ex-McKinsey, Flipkart & Ola), and Neeraj Aggarwal (Ex-Flipkart & Cure.Fit) for this venture.

From employee performance to building workplace culture to organisational goals, xto10x’s modus operandi aims to help entrepreneurs by offering tools, learning and counselling services to growth-stage startups.

xto10x offers three services — a product suite across strategy and data science to execution; a learning platform with curated courseware, events and reference cases; and consulting and mentoring to help founders.

The startup claims to have worked with 100+ startups such as CRED, Razorpay, Licious, Meesho, ClearTax, Dunzo, upGrad, SuprDaily, Hopscotch and Sterlite. Seven of its portfolio companies from the learning platform are now unicorns, it added.

“Our experience over the past two years has shown us that founders are really looking for support to grow fast and build enduring companies. Doing deep operating work with startups and converting that experience into software tools and learning curriculum has helped us build strong momentum, driving 4X growth in the past year. In fact, xto10x is already a profitable company,” Krishnamurthy said in a statement.

In December 2019, the firm stepped into the Southeast Asia market by setting up an office in Singapore