Confluent, a major global player in data streaming technologies, on Thursday said it plans to increase its Indian workforce by 25 per cent in 2024, to focus particularly on strengthening its operations in India. The company, which already has a significant presence across various sectors in the country, is looking to capitalise on the tremendous growth potential presented by India’s rapid digital transformation.
During a roundtable in Bengaluru, Jay Kreps, co-founder and CEO at Confluent, spoke on the critical role India plays in the company’s global strategy. “India has been an incredibly important part of our team for a long time,” Kreps said. He noted that India hosts virtually every part of the company, from product and engineering to finance, HR, marketing and significant sales and field presence. The company employs approximately 400 of its 2,744 global workforce within the country.
Kamal Brar, Senior Vice President for APAC at Confluent, said, “Nearly 20 per cent of Confluent's workforce actually is now in India.” He highlighted the dynamic growth of the Asia Pacific region, with India being a top focus for investment due to its economic boom and technological innovations. “India's got to be in the top three markets that we are heavily focused on for investments,” Brar added.
Confluent’s customers in India include Swiggy, Meesho, Zepto and MPL, among others.
Focus On Indian Public Sector
To tap into new markets, Confluent has now set its sights on the Indian public sector over the next 12 to 18 months. The company said this decision aligns with the Government of India’s push to utilise standardised technology platforms. Confluent believes it can make a significant impact in this area.
“We are really excited to explore the Public Sector in the next 12 to 18 months,” Brar commented on the new focus area, highlighting it as a crucial part of Confluent’s growth journey in India.
The company said it is also making significant investments in building partnerships and integrating with the local ecosystem, particularly with global Indian service integrators. “We have a pretty significant investment actually in Bangalore, Chennai and Mumbai,” Brar noted, acknowledging the importance of these partnerships in developing core solutions for various industries.
As Confluent continues to expand its footprint in India, the company said it focused on increasing its visibility and market reach. “We’re not as well-known yet in India as we are in probably the US or Europe,” Kreps admitted. This acknowledgment indicates to Confluent’s efforts to enhance their market presence through strategic marketing and engagement activities, like the conference where these discussions took place. The increase of Indian workforce on sales and marketing front is also likely to support the company’s India journey.
According to analysts, Confluent’s approach appears optimistic as it continues to expand its clientele across banking, financial services, insurance (BFSI), startups, retail and digital-native business sectors. The company collaborates with more than 200 system integrators and partners with leading global players in India.
“Data created at the edge will growth at an exponential rate. Businesses would need to process this data and use streaming services to feed to other applications and also offer enhanced consumer experience. All these reasons make the India market a growing opportunity for Confluent,” Rajiv Ranjan, Associate Research Director at IDC told BW Businessworld.
For the fiscal year ending in 2023, Confluent reported that 40 per cent of its total revenue was generated from international markets, with contributions coming from customers across more than 100 countries. The company posted USD 777 million in global revenues in FY23, up 33 per cent YoY, with India being one of the bright spots.
“With plans to grow its headcount in India, expand its partner ecosystem, marketing investments and most importantly its technical expertise in the Apache Kafka platform, Confluent looks steady to grow its presence in India in the next coming years,” Ranjan added.
