Smart Vending Solutions Company Interview with CEO Hiren Hasmukh Featured on Teqtivity
Teqtivity, a bootstrapped company founded by Hiren Hasmukh in 2016, has established itself as a disruptor in the rapidly evolving $1.97 billion IT Asset Management (ITAM) industry. With a focus on affordability, customizability, and bridging gaps between different departments, Teqtivity offers a feature-rich solution that makes asset management accessible and relevant to everyone in an organization.
Hiren Hasmukh, the CEO of Teqtivity, began his entrepreneurial journey in 2007 with the founding of Guerrilla Design & Advertising. He later launched Blackstorm, a Los Angeles-based agency offering comprehensive digital services, in 2012. It was during this period that Hasmukh identified opportunities in IT asset management and decided to found Teqtivity.
Teqtivity's journey began with TeQube, a smart locker system designed to help companies loan out devices to their employees more efficiently. However, the company has since evolved into a comprehensive ITAM solution that emphasizes simplicity and clarity in a complex industry.
The company works with a diverse range of companies, including innovative tech startups, Fortune 500 companies, fintech leaders, and others. Companies using Teqtivity's asset management platform have reported cost reductions and improved efficiency.
Teqtivity's solution is not without challenges. The company has had to pivot from a hardware solution to a software platform, build trust as a new player in a competitive market, and address a data breach affecting one of their customers. Despite these challenges, Teqtivity has demonstrated resilience and a commitment to growth.
The company has experienced significant team growth over the last year and is focused on continued growth over the next 12-18 months, both in terms of its team and product capabilities. Teqtivity's current Annual Recurring Revenue (ARR) is between $1 and $2 million.
Despite the challenges and growth, Teqtivity remains true to its vision, maintaining its independence and offering a solution at an affordable price point. With its focus on simplicity, efficiency, and accessibility, Teqtivity continues to make a significant impact in the ITAM industry.
