CRMnext

Originally founded as Acidaes Solutions Pvt Ltd in 2001, the company launched its flagship product, CRMNEXT, in 2006 before rebranding to BUSINESSNEXT in October 2022. The venture was established in Noida, India, by a team of co-founders including Nishant Singh, Manoj Kumar Singh, and Bidhan Choudhary. Nishant Singh, who serves as the CEO, brought prior entrepreneurial experience from co-founding qMGN Inc., an online advertising company in New York, and technical experience in GPS development. His motivation for starting the company stemmed from observing high failure rates in CRM investments and a desire to build a deep-tech product company in India, a market then dominated by IT services.

BUSINESSNEXT operates as a specialized technology provider for the financial services industry, catering exclusively to banks, credit unions, and insurance companies. The company generates revenue through licensing fees for its private cloud solutions and subscriptions for its public cloud offerings, supplemented by income from implementation and support services. Its business model focuses on providing a universe of composable, enterprise-grade, hyper-SaaS solutions that help financial institutions with digital transformation. The platform is designed to manage large-scale operations, powering over one million users across 65,000 branches and managing one billion end customers globally.

The firm’s core offering is a comprehensive customer experience platform that includes modules like CRMNEXT, CUSTOMERNEXT, and DATANEXT. These platforms are AI and ML-driven, cloud-agnostic, and designed to provide a unified 360-degree view of the customer. Key features include tools for modernizing sales, service, and marketing automation. The platform facilitates instant digital account opening with eKYC and video KYC, and digital lending with AI-powered underwriting and seamless integrations via over 150 ready connectors. It also offers a triple-layer AI system that combines predictive, generative, and autonomous AI agents to automate processes, deliver personalized customer engagement, and improve operational efficiency. The 'commutable cloud' architecture is a notable technical aspect, offering a single codebase for both on-premise and cloud deployments to ensure seamless upgrades.

The company has achieved significant milestones, including securing a $7 million Series A funding round in 2014 from Norwest Venture Partners and a $16 million Series B round in 2021 co-led by Avataar Ventures and Ascent Capital. These funds have been directed towards global expansion and team growth. BUSINESSNEXT has established a global presence with offices in 14 countries across North America, MEA, and APAC, serving clients like HDFC Bank, ICICI Bank, Axis Bank, and National Bank of Oman.

Keywords: financial services CRM, banking technology, credit union solutions, insurance CRM, customer experience platform, digital onboarding, digital lending, AI in banking, CUSTOMERNEXT, DATANEXT, Acidaes Solutions, Nishant Singh, composable enterprise solutions, hyper-SaaS, commutable cloud, core banking integration, customer 360, BFSI solutions, loan origination, wealth management tech