Vivek Vipul had a thought experiment: ‘What would the world be like if one did not need to search for information?’ He came across an article mentioning that proliferation of social media is bringing upon huge volumes of unusable but valuable information in unstructured text format. At the intersection of these two thoughts, Abzooba was born in 2009 with a vision to leverage its analytical expertise to successfully unlock such valuable information in text and harness it to create a new ocean. Having a team with 15+ years of experience in Advanced Analytics boosted Abzooba to develop technology and business in Predictive and Prescriptive Analytics.
Many potential investors hesitated to fund Abzooba’s initial round, as they misinterpreted it as R&D project, due to the nascence of the concept. Hence, the company took the friends and family route. Providing services in advanced analytics aided the company in revenue generation, which was pumped right back into XPRESSO, a text analytics engine. As their services were getting lot of traction, Abzooba also started building data science services.
Abzooba’s solutions for fraud prediction with matching algorithms and predicting credit worthiness of SMBs by using social data have helped several banks and financial institutions. For instance, Abzooba helped a major grocery retailer to achieve over 300 percent increase in the redemption of their coupons cost. Abzooba’s personal network brought them many clients initially. Their very strong relationship with UST Global, a premier IT services company & an Abzooba stake holder, enabled Abzooba to acquire clients from major Fortune 500 companies. Since the company is growing faster and getting deeper into both Analytics Services and development of XPRESSO, they are keen on effectively managing growth without getting crushed under their own weight.
Whilst today’s driven employees are willing to go the extra mile to quench their thirst for learning and innovation, not all are fortunate enough to get hold of a work environment where they cannot just learn but explore and innovate as well with complete ease and freedom. Abzooba Inc., precisely provides this to their ambitious data scientists by helping them to multiply their skill with pragmatic learning programs. Instead of blindly following their peers’ tedious work in other dreary organisations, Abzooba encourages their employees to be them for themselves at work place.
These highly spirited data scientists have built one of the world’s most advanced Content Analytics Engine – XPRESSO. Within just five-years of inception, Abzooba has established itself as one of the pioneers in aspect based Sentiment Analysis over unstructured text. “Many of our employees are PHDs and MBAs from premier institutes like IIT, Stanford and Berkeley. In fact, what we bring to table in terms of talent and technology, candidly, there is no other start-up of our size that has that,” says a proud Vivek Vipul, Co-Founder & CEO, Abzooba Inc.
The company builds a strong trust and transparency between all levels in organisation, as Abzooba’s managers frankly share their ups and downs with their team. Not only Abzooba hires young inquisitive minds with strong math, stats and computer science background, they supplement them with extensive training on real projects, processes and methodologies. Unlike other Analytics companies who launch a clichÃ© ‘Innovation’ program that fails to generate response; Abzooba distinguishes their data scientists by creating a formal training and development program that actually seeks to develop their skills. Abzooba’s Corporate Development Program (CDP) called Prodigy is a platform where employees suggest internal projects on technical, process improvement and on the implementing side of innovation.
Vision for Future
United States is the primary focus for the company as it garners huge traction for their products and services. Abzooba also aims to expand across Europe and Asia in the next couple of years as the markets are showing great prospects. XPRESSO is considered as one of the best Text Analytics engines in the world and Abzooba will continue to invest significantly in its R&D to enhance it further.
While the accuracy of XPRESSO is being augmented, multiple applications that use XPRESSO technology are being developed by Abzooba’s product engineering team. Abzooba also plans to offer data analytics as a gaming concept to clients in future. The company strongly believes that the quality of Analytics Services is determined by the quality of talent. Hence, they will continue to hire and develop the best analytics talent available in India.
Vivek Vipul, Co-Founder & CEO
With over 20 years of experience in Fortune 500 companies, start-ups, and Big 4 consulting companies, the IIT Kanpur alumnus Vivek orchestrates Abzooba’s vision and strategic direction.
Offices: California, Calcutta and Pune
Offerings: XPRESSOMeter, XPRESSOInsights, Data Science & Product Engineering Services