Saad Raja, CEO of Intellia
Why should the $150 billion global management consulting industry be dominated by companies and analysts in developed markets? Cloud boot Intellia thinks there is an alternative: it provides access to a vetted pool of analysts and consultants in emerging markets around the world.
“I was constantly amazed by the incredible raw talent in emerging markets – but also dejected by the limited opportunities,” said Saad Raja, Intellia’s founder, who previously spent more than a decade in consulting roles in a number of different emerging economies. “Then the pandemic hit and the penny dropped for many companies around the world that digital technologies mean they don’t necessarily have to hire a consulting firm that is near them.”
Intellia wants to build on these foundations. Raja believes that many companies will jump at the opportunity to obtain quality advisory services from analysts based in different markets, not least because such services will often be less expensive. But if they want to explore that opportunity, they need a third party that provides a reliable source of quality candidates.
That’s where Intellia comes in. It uses a range of innovative technologies and processes to vet consultants – Raja says the company hires only the top 1% of analysts in any given market. These analysts are directly employed by Intellia – earning a base salary from the company – and can then be hired for specific assignments. “We also have an internal learning management system so we can train consultants on what clients want,” adds Raja.
To date, Intellia has registered 6,000 analysts with more than 150 analysts, many of whom are already working on client advisory assignments. The company’s client base includes a number of multinational corporations, as well as sovereign wealth funds, private equity firms, public sector organizations and even a Michelin-starred restaurant chain.
Services include value creation plans and portfolio monitoring; investment due diligence and memoranda; economic development policy; pricing strategies; trade, economic policies and strategies; merger and acquisition screening; deal pipeline development; financial modelling; and valuation and analysis.
“Our mission is to ensure that emerging markets can play their part in the knowledge economy,” says Raja. “They can provide so much more than just commoditized outsourcing services.” He is so confident that his consultants will deliver what clients are looking for that Intellia promises to waive its fees if they are not satisfied with the work done. It’s in stark contrast to the approach of established management consulting firms, many of which are known for their extremely high costs, Raja argues.
So far, Intellia has drawn its analysts primarily from Pakistan, Colombia and the United Arab Emirates, but the company has plans to expand its reach, with planned launches in Saudi Arabia and Lagos in the coming months.
Increasing the number of consultants available will allow Intellia to bid on more projects. Raja sees the company taking over traditional consulting firms as well as the growing number of freelancer marketplaces. “At the moment, consultancies take weeks to negotiate exorbitantly high fixed project costs with limited flexibility for companies,” he argues. “On the other hand, portals for freelancers offer relatively low-quality, unattended services that are not suitable for businesses and the public sector.”
The company’s fundraising will help with this – Intellia has raised approximately $1.5 million in pre-seed funding over the past 12 months. The money comes from venture capital firm Fatima Gobi Ventures, plus a number of angel investors, many of whom have a background in the consulting market.
The funding supports the company’s scaling plans, explains Raja. Intellia hopes to deploy 1,000 analysts by next year. That will include a high proportion of women, he adds, in line with the company’s ambitions to encourage more inclusiveness. About half of the existing workforce is female.
“We aim to be the first call for senior management in private and public sector leaders when it comes to strategy, finance, investment and public policy,” concludes Raja. By leveraging talent from a much broader pool than traditional consulting firms, he believes Intellia will be able to do just that.
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