The company is substantially dependent upon customers renewing their subscriptions to, and expanding their use of, its platform to maintain and grow its revenue, which requires it to scale its platform infrastructure and business quickly enough to meet the company's customers' growing needs. If the company is not able to grow in an efficient manner, its business, financial condition and results of operations could be harmed.

The company is dependent on a small set of products, and the failures to achieve continued market acceptance of its products could cause the company results of operations to suffer.

If the company platform fails to perform properly or there are defects or disruptions in the rollout of its platform updates or enhancements, the company reputation could be adversely affected, its market share could decline, and the company could be subject to liability claims.

The company's sales cycle with large enterprise customers can be long and unpredictable, and its sales efforts require considerable time and expense.

Its business depends on the company's ability to send consumer engagement messages, including emails, SMS and mobile and web notifications, and any significant disruption in service with its third-party providers or on mobile operating systems could result in a loss of customers or less effective consumer-brand engagement, which could harm its business, financial condition and results of operations.

The company depends on its long term customers for a significant portion of the company's revenue, and any decrease in revenues or sales from any one of such key customers may adversely affect its business and results of operations.

If the Company or its Subsidiary are unable to protect its intellectual property, or if the Company infringes on the intellectual property rights of others, its business may be adversely affected. Further, the Company uses the patents registered in the name of its wholly owned subsidiary, Pelatro Pte. Ltd., therefore faces the risk of imposition of restriction in its usage.

The company operates in limited geographies for a significant portion of its revenue and also depends on limited number of customers for its revenue from operations. Projects in new geographies may not be as profitable as in existing geographies.

Its Group Company, Pelatro Limited (U.K.) may have conflict of interest with it at it is engaged in similar business and may compete with the company.

Its Subsidiary, Pelatro Pte. Ltd. may have conflict of interest with the company as it is engaged in similar business and may compete with it.