In October, the Managing Director of Teleonto, the fringe Indian RA vendor, was arrested by police for allegedly siphoning INR18.6M (USD340k) of investor funds; see here. The CEO is also reportedly wanted by police. Teleonto’s website has seemingly disappeared, but their corporate LinkedIn profile is still visible here.
Newsgopher holds his paws up and admits this story initially slipped by him. There are dangers when dealing with unproven providers, because they may make grossly inflated claims about their business. Teleonto were always something of a mystery, despite the fact they called themselves “innovation leaders” in the field of revenue assurance. For several years they occasionally obtained publicity for supposed product developments and for their fund-raising efforts, but their history appears to be that of a venture which entered the market too late and never developed a viable offering. A year ago the CEO gave an interview where he stated that the company had focused its strategy on providing RA SaaS; see here. This scandal highlights the need for care in determining who has access to sensitive RA data. It also highlights the importance of thoroughly checking the viability of suppliers, especially now that the RA gold rush has come to an end and unprofitable suppliers find themselves unable to secure investment to keep themselves going.
Full disclosure: Newsgopher has a Teleonto-branded mug at the back of his cupboard. They were handed out free at an RA conference several years ago ;)
Jealous of the mug! Will be a collector’s item now.
Oooh I wonder how much my ‘Teleonto’ polo shirts are worth? Ebay here I come…