Manoj Agarwal’s Brainchild Xoxoday - Ruling the HR startup market with $20M Revenue

The Story of Xoxoday Startup – Fastest Growing HR Startup Valued Over $3.5M

Xoxoday is a technology-based infrastructure that provides business rewards & incentives to thousands of businesses, including startups and many other large enterprises. This company provides rewards that include real-time and digital awards, recognition, benefits, and Engagement and is a SaaS-based platform that is mostly used by HR leaders, Market leaders, and sales leaders. It also helps to get better ROI for spending Human Capital and marketing programs and has over 1200+ companies all over the globe.

Note : Xoxoday provides rewards through in-app integrations with the help of CRM, ERP, HRMS, and various portals such as survey portals and Gaming portals.

Xoxoday : Key points

• Company Name : Xoxoday
• Founded : 2012
• Founders : Manoj Aggarwal, Sumit Khandelwal, Abhishek Kumar, Kushal Agarwal.
• Headquarters : Bangalore, India.
• Website : www.xoxoday.com

Xoxoday : Employee Rewards Solution Provider

Xoxoday was founded in the year 2012 by Manoj Aggarwal, Sumit Khandelwal, Abhishek Kumar, and Kushal Agarwal. Its headquarters is located in Bangalore and aims at providing global clients rewards and recognition. The rewards provided by them help improve employee engagement, increase sales, improve the performance of the channel, and also helps to build the loyalty of the team. It specializes in solution sales, sales of Saas, FMCG Sales, Account Management, HR-tech, Fintech, Team Handling, Negotiation, Business Management, Channel Sales, Digital Marketing, Brand Management, Product Management, Investments, Accounting and Compliance.

Xoxoday : Products

• Empuls: Empuls is a product of Xoxoday. It is a platform that is based on Saas. It provides tools to align reward employees and helps HR leaders, CHROs, and CXOs to accomplish various activities such as budget automation, workflows, and OKRs.
• Xoxoday Plum: Xoxoday Plum is a platform based on API. It powers business results with rewards such as gift cards, experiences, discounts, merchandise, and many more.
• Xoxoday Compass: Xoxoday also aims at providing a target to digitalize incentives and communication. Its fastest technology has the facility in which organizations can turbocharger their incentives program with the help of game mechanisms for sales teams, channel partners, supports teams, and gig workforce.

Xoxoday Startup Story - How it Begin?

In late 2012, Manoj Aggarwal, Sumit Khandelwal, Abhishek Kumar, Kushal Agarwal initially started Giftxoxo in Bangalore. They were initial business starters to experience consumer internet. They did not scale great in their business. Later in the year2018, they changed into Xoxoday, a B2B platform that aimed at rewarding customers. This was one of the newest and the modern technology in the market. This is how the startup grew in the global markets.

Xoxoday Startup - Founders

• Manoj Aggarwal- the Co-founder of Xoxoday Manoj Aggarwal is a former MBA graduate who he pursued from the IIM Kozhikode. He also pursued his BTech from the PEC Chandigarh. He has been a former employee at Yahoo, Manipal Education, and Flipkart. Besides, that he was also a mentor at Entrancecorner.com, he is in charge of marketing, customer service, and automation process at Xoxoday.
• Sumit Khandelwal- the CEO and Co-founder of Xoxoday Sumit Khandelwal is the CEO and the Co-founder of Xoxoday. He holds an MBA degree from the TAPMI Manipal. Besides, that he pursued engineering from NIT Nagpur, he is a former employee at Hexaware, METRO, and Wipro Consumer Care. He is given the responsibility for business development, logistics, and international sales at Xoxoday.
• Abhishek Kumar Abhishek Kumar is a graduate of the IIT, Bombay. He is an entrepreneur and has created products such as Healthcare, Supply Chain, and Finance domains. He is a former employee at Manhattan Associates, Magma and Nettpositive. He looks after the engineering and technology at Xoxoday.
• Kushal Agarwal Kushal Agarwal holds an MBA degree from the Welingkar Institute. He is a former employee at the African FMCG, BIDCO- Oil Refineries and marketing. He is held responsible for marketing and vendor relations at Xoxoday.

Xoxoday : Funding and Investors

Xoxoday is funded by 2 investors as Mahindra Holiday & Resorts India Limited and Kshatriya ventures.

Xoxoday has fundraised over a total of $450k in 2 rounds.

Fun Fact : Xoxoday has acquired over 4 organizations. Their most recent acquisition was FamousEnuf on January 7th, 2019,.

Xoxoday : Brand Name and Logo

• Brand Name: The brand name is Xoxoday which depicts happiness and love.
• Logo: The logo shows Xoxoday is a bright orange color.

Xoxoday : Revenue and Growth

The revenue model of Xoxoday is based on SaaS. It is based on Commission on transactional reward revenue and platform software fees. Xoxoday has a revenue of about USD 42 Mn in FY20-21. In later 2020, Xoxoday will have over 175 employees. It had a turnover of over $53 million. It is now serving over more than 1000 clients all over India, the US, UK, UAE, and South East Asia.

Xoxoday : Competitors

Some of the competitors of Xoxoday are:

• Perkbox
• Bonously
• Workstride
• Sendoso
• Wegift
• Tango Card
• Tillo
• Blackhawk Network
• Guusto
• Awardco
• Fond
• Kudos
• Kazoo
• Kudoboard
• Motivosity
• Cooleaf
• Bucketlist

Xoxoday : Awards and Achievements

• Xoxoday has achieved g2 crow's best rewards software in the year 2020 APAC region.
• It has also been rewarded as the Digital HR award.
• In the year 2018, Xoxoday was recognized as one of the top 50 startups.
• It was also ranked 20th in the Deloitte Technology Fast 50 award in the year 2020.

Xoxoday : Employee Rewarding Platform

Xoxoday understands the motivation and engagement drivers of the employee, supplier, contract staff, consumer, or a gig. It aims at simplifying the everyday complex problems of the people. It is currently growing at a speed of 100% YoY. Companies like HCL, SAP Success Factors, Infosys are some notable clients of the company.