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The search for good engineering talent from a thousand applications might seem like a tiring task. And to deal with such an issue, Muoro.io introduced itself as EaaS (Engineer as a service) provider in 2019.
They allow the creation of remote engineering teams for tech and tech-enabled companies. Let's take a detailed look at their journey so far including the aspects like startup story, business model, challenges faced, etc.
Muoro - Company Highlights
- Startup Name-Muoro
- Headquarters-Delhi, India
- Industry-IT Staff Augmentation, Tech Outsourcing, Engineer as a Service
- Founders-Vyom Bhardwaj
Muoro - About
- Muoro.io works to provide an engineering workforce to businesses as per their requirements. They also strive to get businesses to find elite engineering talent at competitive prices.
- The firm has a pre-vetted pool of software engineers that are well-trained with domain expertise and proprietary technology. They allow easy hiring for remote distributed engineers or offshore developers for businesses looking for similar options.
- Addressing the problem of shortage of skills, the company provides skilled engineers from all around the globe. Working with a total of about 1000 engineers, India has engineers from tier 2 tier 3 cities and towns. Eighty percent of the company’s current engineering workforce is based out of India and the remaining 20% is from developing countries in Africa Asia and Eastern Europe.
Muoro - Industry
- Muoro.io works in the Tech outsourcing and remote IT staff augmentation industry. The tech outsourcing industry involves the practice of using service providers to deliver services falling under the category of technology. In 2019, the global outsourcing company was estimated to be worth around $92.5 billion.
- Staff augmentation is a solution to onboard skills required by a company through outsourcing. The TAM for the staff augmentation industry in 2022 was around $137 Billion and for Tech outsourcing, it was estimated to be around $587 Billion.
Muoro - Founders and Team
- Vyom Bhardwaj has studied economics at McGill University Canada. He works as a director at Muoro. Apart from Muoro, Vyom has also founded an IT service-providing company named VRentin Tech in 2015.
- The Muoro company size is 150+ employees including contractors. Muoro plans to recruit more engineers from developing nations like Nigeria, Kenya, Belarus, etc. It aims to give engineers from developing and underdeveloped nations the opportunity to work with global companies and get international exposure.
- The company plans on picking up these engineers and providing them with a pay scale according to the industry’s progress and growing them internationally.
Muoro - Startup Story
- The founder of Muoro always had the desire to enter the VC world owning to his identity as an economics student. However, after having a short instinct at IVCA (Indian Venture Capital and Private Equity Association) about the VC funds pouring tons of money into tech companies around the year 2014-2015.
- With this learning, he decided to take a small break and learn to code. In the meantime, he founded his first company named VRentin Tech. Vrentin was a similar platform like IndiaMart focusing on equipment rentals and listing.
- Well, the outcome was not in line with the planning, however, Vyom kept hustling and started offering the BI system to MSME in retail, finance and manufacturing. It was an in-house product developed for an internal purpose which was sold in 2018.
- With all the experiences, he realized that the real issue with the companies was that they didn't have the right teams to develop technology products, and on contrary, it was also not an easy task to hire top-quality talent.
- With this realization, he decided to build products from a remote team and help companies to set up their remote teams in the development and gain their desired results
Muoro - Name, Tagline, and Logo
- The tagline is “Building Remote Software Engineering Teams”.
- The logo of Muoro consists of the letter “M” with three triangles of different colors. The inspiration for having a multi-color logo came from the logos of Zoho, Microsoft, Google, etc.
Muoro - Business Model
- Muoro is basically a service-providing platform that works on an arbitrage model. They get their paychecks from the clients which are later on distributed to the employees in the form of salary and fees.
Muoro - Products and Services
- Muoro.io is known to provide and build internal tech products that are powered with the latest tech stacks and use AI to match the best of the engineers in the Muoro talent pool.
- It helps them with their current projects and roles at hand. It is one of the leading tools through which the Muoro.io team can deploy the engineers within 3 days/72 hours on client projects.
- Vrentin tech Pvt ltd. The company offers the services of software engineers specializing in technology such as Data Engineering, Cloud, UI, Salesforce, AEM, and AI.
- The AI sorts out the profiles of the engineers that Muoro has on their talent bank to find the best match. They then provide the companies with 2-3 best-suited profiles, and then they are free to interview and select the candidate that best suits them.
Muoro - Growth
- Muoro uses multiple ways to get clients. They use Personal networks, affiliate channels, and community building to scale up their business combined with the quality of their services and the software engineering knowledge to build up the name in the competition.
- Muoro has deployed its engineers to over 50 companies across the globe including known companies including Microsoft, Nike, Pinelabs, KPMG, Kroger, etc.
- Startup companies backed by Sequoia Capital, Accel, Qualcomm, and Y-comb and enterprises such as Nike, Sabre Travel, Microsoft, Tesco, and Verizon hire engineers through Muoro on a regular basis both directly and indirectly through partner networks.
- Additionally, hiring engineers with Muoro.io saves an average of 100+ hours and $2000 for each hire which is a plus point for them all.
Muoro - Challenges Faced
- The challenging part for the Muoro team was to convince enterprise-level clients and overseas companies to outsource the engineering staff augmentation from a small company.
- Since the overall budget of such technology projects is more than $1 million, and to abide by their requirements and overcome this challenge, Muoro decided to provide quality engineers to them. They also worked on compliance with updated policies in order to gain the customer's trust.
Muoro - Competitors
- Some of the competitors having similar model super sourcing in India are Turing, Toptal, Crossover, and Gun.io.
- Some other competitors from the international market are Arc.dev, Freelancer.com, and Andela.
Muoro - Future Plans
- With over 3 million workers the economy of the gig sector is on a rise. According to ASSOCHAM, India’s gig sector is likely to grow to $455 billion by 2024. The company said it had a revenue of Rs 15 crore last year and is looking to build on it this year.
- Among its future plans is geographical expansion by recruiting engineers from South Africa, the Middle East, and Southeast Asia to build a global tech talent pool.
- Muoro also has a separate entity in the US where it is planning to build its sales and operation team to build a larger client base in North America.
Who founded Muoro.io?
- Muoro.io was founded by Vyom Bhardwaj in 2018.
What is the market size of IT outsourcing?
- The global IT outsourcing market was valued at $556.67 billion in 2020.
Who are the biggest competitors of Muoro.io?
- Some of the biggest Muoro.io competitors are Toptal, Freelancer.com, Turing, etc.