Cleo Bengaluru centre plans co-innovation

Cleo, the Illinois-headquartered technology company that helps enterprises to share business related files online, said the newly opened Center of Innovation in the city will help the company to co-innovate with its clients.

In an interaction with Deccan Herald, Cleo CEO Mahesh Rajasekharan said the Center of Innovation will help to accelerate its product development initiatives. “Many of the Fortune 500 companies which are our clients have their development centres here in Bangalore. Since we are very close to our customers we can co-innovate and find solutions for their nagging problems,” he said.

Cleo’s innovative technology enables secure and scalable movement of critical data between and within enterprises, cutting across platforms. “We have a single solution platform for enterprise data integration, enterprise managed file transfer, secure file sharing, and interactive engagement. This reliable exchange of data enables teams to be more agile, and enjoy ease of deployment, migration, and scalability in a data-driven decision making environment,” he said.

Even though Cleo didn’t disclose investments at the India centre, Mahesh said the company has hired a 20-member team which will increase 10x within a few years.

On the revenues front, he said Cleo will become a $100-million company by 2018 as it is registering 3x annual growth.  “In 2014, North America  contributed  70 to 75 per cent of our revenues. Since we are expanding in the APAC region now, the revenue mix will be 50 per cent, 25 per cent, 20 per cent and 5 per cent from North America, Europe, APAC, and Africa respectively,” he said.