In the recent past, it has been rather difficult for most people to get their hands on information, or rather, the right information. With the amount of information being thrown at everyone, people are being spammed and they are quite fed up of it. Using some forms of AI, the company is capable of giving their users the right information they are looking for. Their system is capable of going through the requirements of each of their clients.
“The founders are pushing Elqano to enable any company to become a place where workers are instantly connected to the knowledge they need”
The average worker creates more than 5MB of data a day. This just means that there is a lot of information out there and users are overwhelmed by it. Most people are spending a lot of time at work, looking for the right information. A study shows that 19% of employee work time is spent looking for and processing through, information. Elqano solves the issue of digging through tonnes of content and finding what customers are looking for. It is proactive, fast, efficient, effortless and instantaneous.
The current potential for enterprise search engines is approximately $ 3 bil. However, it is speculated to grow up to $ 9 Billion in the next 7 years.
The company is headquartered in Geneva, Switzerland. The product is being run by 4 employees. The company is looking to add another two within the next year. The company is run by Yann Echeverria, who is the founder and CEO. Guillermo Garcia is the CFO and Vincent Pochet the CTO, play a major role as well. Each member makes sure that they handle their responsibility and pull their loads. Moving forward, they are looking to hire a chief sales executive since they are looking to attract some big enterprises to use their system. They are also looking to add a PhD in natural language processing to their team.
With Elqano’s mix of the right talents, the right amount of exposure and the right skills, they work well together. That’s not all, they understand their clients and their needs as well and this allows them to provide the solutions their clients are looking for.
Looking to the future, the company already has their targets in place. They are planning on adding 80k paying customers to their platform within the next five years. That would help them generate annual revenue of $ 24 mil. They are also looking to get their hands on some funding in the near future. They are exchanging 20% of their company, in equity, for $ 1.5 mil. Overall, the product that they have created will help save a lot of time at work, and make their employees 30% more productive, which would also benefit clients further.
They see their product catching on since their interface is easy to use, neat and simple. It takes some time to learn and understand but in the long run would save a lot of time. Further, Elqano allows users to assign documents to other users on the system. This makes collaboration a lot easier.
Like most companies out there at this day and age, they do have their fair share of competition. This does not worry them though since their interface is a lot easier to use, effortless, instantaneous, and proactive.