While the financial terms of the deal remained undisclosed, as per a report, Wondrlab has acquired a 51% stake in Cymetrix
The deal will help Wondrlab strengthen its customer transformation and technology capabilities
This is the fourth acquisition by Wondrlab since its inception in 2020. Earlier, it acquired Opportune, creative agency What’s Your Problem, and performance marketing agency Neon
Marketing technology startup Wondrlab announced acquiring a majority in Cymetrix, a leading Salesforce consulting and data analytics firm, which has operations in the US and India.
While the financial terms of the deal remained undisclosed, as per a report, Wondrlab acquired a 51% stake in Cymetrix.
The deal will help Wondrlab strengthen its customer transformation and technology capabilities, the startup said in a statement.
Cymetrix is the fourth acquisition by Wondrlab since its inception in 2020. Earlier, the Mumbai-based marketing technology startup acquired influencer marketing platform Opportune, creative agency What’s Your Problem, and performance marketing agency Neon.
“At Wondrlab, our ambition is to build India’s first network with a singular focus on delivering on our proposition of a full-funnel approach seamlessly to help our clients win in an increasingly fragmented marketplace,” said Saurabh Varma, founder and CEO of Wondrlab. “The acquisition of Cymetrix perfectly aligns with our strategy of expanding our capabilities in digital business transformation technologies and services.”
As per a report, Wondrlab is eyeing a 30-35% year-on-year organic growth.
Following the deal, Sandip Chintawar and Prakash Kolhe, the founders of Cymetrix, will continue to lead the company into its next phase of growth and expansion across geographies.
As per Varma, Cymetrix’s globally proven expertise in CRM, including specialised platforms like Salesforce, and their proficiency in marketing analytics will significantly enhance Wondrlab’s ability to deliver impactful CX solutions to its clients worldwide.
Launched three years ago, Wondrlab aims to create a global world-class network from India, which encompasses marketing transformation and digital business transformation. The startup raised $7 Mn from Pi Ventures, Prodapt Holdings, and Tanas Capital, among others, in 2021.
Chintawar, founder and director of Cymetrix, said in the statement that the company has observed that clients often face challenges extracting true value from their technology implementations due to the silos that exist between creative content solutions and martech platforms.
“Wondrlab’s proposition of an interconnected digital ecosystem is highly compelling for us, as technology entrepreneurs, we see a tremendous potential in converging deep platform capabilities. It is precisely the right partnership needed for Cymetrix to embark on the next phase of growth and expansion,” Chintawar added.
Founded in 2016, Cymetrix claims to be a trusted provider of AI-driven CRM and advanced data analytics solutions, globally. Beyond traditional CRM, it integrates artificial intelligence to unlock transformative insights and enable data-driven decision-making. Cymetrix has a team of over 200 certified professionals.
The company claims to have delivered large-scale projects across industries such as BFSI, real estate, pharma, hi-tech, healthcare, retail, and more in North America, Europe, the UK, the Middle East, Japan, and India.
CRM and analytics technologies, infused with AI & ML, serve as catalysts in bridging the gap between marketing and business transformation, where this collaboration between Cymetrix and Wondrlab will play a crucial role, believes the martech startup.
As per a report, the global martech market was valued at $325.7 Bn in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 19.8% from 2023 to 2030.