Rishabh Pant Acquires 2% Stake In TechJockey.com For Rs 7.40 Cr

TechJockey.com, a fast-growing online marketplace for software solutions, has received an investment from Indian cricketer Rishabh Pant. Pant acquired a 2 per cent stake in the company for Rs 7.40 crore, valuing TechJockey at Rs 370 crore (around USD 44.17 million), signalling his entry into the tech space and backing the company's future growth plans.

Founded in 2017 by Akash Nangia, a former Vice President at Zomato, and Arjun Mittal, an ex-McKinsey executive, TechJockey connects software vendors with small businesses across India. The platform provides software solutions across various categories, tailored to the needs of enterprises. Earlier in 2024, the company took a significant step by expanding its operations into the United States, further enhancing its global footprint.

Pant, known for his dynamism on the cricket field, explained that his decision to invest in TechJockey comes from his professional sports experience, particularly the role of technology in the game. "In cricket, having the right technology for live streaming, commentary, and DRS is crucial. The right tools help make smart decisions. I've seen how software can grow businesses efficiently, so investing in TechJockey made sense to me," Pant shared.

The company’s leadership has warmly welcomed Pant’s involvement. Co-founder Akash Nangia highlighted the significance of having a sports figure of Pant’s calibre on board. "It's not just about his celebrity status; Pant understands business deeply,” said Nangia. He emphasised that Pant’s insight and understanding of technology and growth would contribute to the company’s expansion efforts.

The new funding from Pant’s investment will be utilised to scale TechJockey’s marketing efforts, particularly in the US, while also increasing the number of global sellers on its platform. The company, with its strong SaaS-based model, is well-positioned for growth, especially as the Software-as-a-Service (SaaS) industry continues to flourish. Nangia highlighted the growing potential of SaaS firms and TechJockey’s role in helping small businesses access effective software solutions.

In the financial year 2023-24 (FY24), TechJockey reported revenue of Rs 125 crore, with Rs 7-10 crore generated from advertising sales, while the rest of the revenue came from margins charged to sellers. The company aims to boost its revenue to Rs 170-180 crore by FY25, supported by Pant’s investment and its global expansion strategy.

With more than 500 software categories on its platform, TechJockey.com caters to over five lakh businesses monthly, helping enterprises across India and globally meet their software needs.