Strayos has quadrupled its customer base over the last two years.
The Buffalo startup is gearing up for the next phase of its journey by introducing new features – such as a hardware product – that will allow it to deepen relationships with mining companies across the world, founder and CEO Ravi Sahu said.
“We are crazy busy right now with market expansion and new product launches,” Sahu said. “We are looking to double our revenue, expand into different markets and hire an executive team.”
It’s been almost 30 months of company-building since Strayos won $1 million in the 43North competition and moved its business from St. Louis to Buffalo.
Strayos has 15 employees, eight of whom are located in Buffalo. Sahu said the company isn’t limiting its hiring to one specific region, but is looking to establish Buffalo as its hub for product and engineering teams. Strayos has eight openings.
Strayos’ core software platform uses artificial intelligence to map underlying geological conditions for mining operators. The new product will allow those customers to test the quality of what they’re mining, which will lead to more efficient and environmentally friendly operations, Sahu said.
Strayos has gone from 150 sites to more than 600 in the last two years, and is looking to expand to 900 sites by early 2023, Sahu said. The company has customers in 16 countries.
