Sabeer Bhatia launches new IT venture for US real estate

Tags: Companies
Hotmail founder Sabeer Bhatia announced the launch of his new company under the name AMP Technologies in Chennai on Thursday. This is Bhatia’s fourth venture after Hotmail, ecommerce company Arzoo Inc and messaging service JaxtrSMS. Of this, Hotmail was sold to Microsoft in 1999.

AMP would specialise in products and services for the US commercial real estate industry. With a present strength of 100 people, the company has set up its 250-seater facility at Royapettah in Chennai. Bhatia is the sole investor in the company and he refused to divulge financial details.

“The idea was born by our own frustration with the lack of information available and the antiquated systems used in our own real estate investments. We set out to create an asset management platform or what is now AMP Technologies,” Bhatia said.

The company has three products namely a business intelligence solution called AMPIntelligence; the lease management product called AMPLease, and a collaboration product named AMPFiles. It also offers the solutions on a services model through cloud infrastructure.

Neel Naicker, co-founder and chief executive officer of AMP, said: “we started the company in 2010 and were doing R&D to develop the products. Over the past six months, we have started to offer the beta version of the solutions to customers in USA. For now, we have 12 customers including Irvine Company, Arden Realty, Hudson Pacific Properties and Digital Realty.”

Bhatia officially launched the company and its services business on Thursday. The AMP platform is designed to allow commercial real estate investors, owners and operators aggregate and access critical investment information from any PC, laptop, tablet or mobile device, he added.

“AMP is a cost effective, cloud-based real estate management platform and there is no need for the installation of hardware, software, databases, maintenance or upgrades. Our aim is to become a leader in delivering the world-class solutions and services to the real estate managers across the globe,” Bhatia said.

shyamalaseetharaman@mydigitalfc.com

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