19th April, 2023: Powerplay, one of India’s leading end-to-end construction management applications, has grown exponentially in FY 2022, registering a 110.12% growth in its active user base. This achievement comes as Powerplay sets its sights on an ambitious revenue target of $1 million for the fiscal year 2023-2024.
Powerplay witnessed a surge of 83,868 active users in 2022. In the same year, $100 million worth of material procurement was facilitated using Powerplay. This success is a testament to Powerplay becoming the most preferred Operating System in the construction industry.
Continuing the growth momentum, the company intends to reach a revenue of $1M in FY 2023-2024. It is also targeting the procurement volume on the platform to reach $1 billion in the next financial year.
Commenting on the growth projections, Iesh Dixit, CEO & Co-founder, Powerplay said, “We are thrilled to have achieved such significant growth in FY 2022-23 and hope we can continue exceeding our customers’ expectations. Construction SMEs like builders, general contractors & specialised contractors across all categories use Powerplay multiple hours in a day to manage their projects. Moreover, bigger businesses are also moving on Powerplay through pure bottom-up adoption.”
“This year Powerplay saw players from mid-big markets like WeWork, Adarsh Group, NR Green Woods, etc using the app. Once a traditional mindset audience has now started to understand the usability and power of technology.” Iesh shares.
Shubham Goyal, CTO and Co-founder, Powerplay, said, “As we expanded our paid business operations in the later part of the fiscal year of 2022-23, the demands for quality, performance, and reliability have significantly increased. Therefore, we invested heavily in making our tech infrastructure scalable and reliable. Our app is now industry-grade in all three platforms – iOS, Android, and web. Our next focus is to make our tech infrastructure support multiple geographies seamlessly. At Powerplay, we’ve always been tech-first, and our exponential growth in 2022 is a testament to the success of our approach. We are confident that our platform will continue to revolutionise the construction industry and make it more efficient and profitable.”
“In the past year, two things that worked in our favour were – we reduced the customer call-back turn-around time to 2 hours from 2 days, and focused on informational content marketing when nurturing the leads,” Iesh adds.
The startup has raised a total funding of 13M thus far from Accel, Sequoia Surge, India Quotient, and the founders of Snapdeal. Powerplay continues to be the most sought-after construction management software in India. With an ambitious revenue target in sight, the company is poised to continue its remarkable growth and cement its position as a leader in the industry.