EY leader quits after spotting an opportunity. In 4 years hits $12Mn revenue

•  Hi, I’m Abhishek Gupta — former EY Americas Commercial Assurance Leader.
• 2018. I spotted a glaring gap. 
• 2021. Quit EY and started Pierag Consulting.
• 2025. We’re a 300+ team and have nearly doubled revenue to $12Mn — supporting top CPA firms, consulting firms, MNCs, VCs with audit, risk, and consulting services.
• And we’ve done it all 100% bootstrapped.

Let us rewind…

I joined EY in 2011, as the Americas Commercial Leader for Assurance.

We began as a small team of 40. Over the years, I played a key role in expanding it to 1,600 people—and today, the number has likely exceeded 2,000.

My role was clear,

• Deliver audit and assurance work from India to EY offices in the U.S., making sure everything ran smoothly and met their standards.
• I also developed new practices to support EY US partners in business development and market strategies.

As cliché, as it might sound…

Of course, the growth, and money were all fantastic.

But I started to feel complacent in the corporate world, getting caught up in the so-called “titles and designations”.

In the meanwhile…

Identified a gap

In 2018, I saw something most ignored:

• Large CPA Firms were offshoring “audit, risk, and consulting” to their India captives like EY GDS, PwC SDC etc.
• But many of the successful Top 100 U.S. CPA firms – They had NO high-quality offshore support…They were missing out on efficient, value-driven offshore partners.

I asked myself:

• Do CPA / management consulting firms have the potential to set up their captive centres?
• Do they need the right partners? What opportunities exist for them?

This felt like a huge market opportunity.

My colleagues believed in the idea, and my family encouraged me to give it a shot.

I knew this was the right moment to take the plunge.

What next?

Yes, I quit EY!  

In 2021, I finally found the courage to take the plunge—right in the middle of COVID.

It was one of the most challenging years for the country, but also a turning point for me.

I hit the ground running alongside my colleague, and we decided to give ourselves a year or two to go all in.

Also read: EY UK Chairman announces new consulting firm; secures $300Mn PE funding!

Year-by-year growth journey

2021

Jumped in—with no clients, and no pipeline

Usually, people quit their jobs and jump ship only after landing a couple of clients.

But in our case? We didn’t have a single client. (I’ll tell you—it’s not a great idea!)

We sent 25,000 cold emails to the top 500 Firms — zero responses.

The first three months were silent. (Did we misread the market?)

Then…out of the blue, came a random inbound inquiry — not for assurance, but risk advisory service.

We weren’t sure.

But since you never say no to your first customer, we did everything we could to add value.

The client loved it.

And that opened up more doors.

Eight months later, we finally got our first assurance client.

By the end of Year 1:

• 40-member team (my team from EY joined me!)

• Positive cash flow

• First revenue flywheel in motion

2022: Joint venture deal with Baker Tilly

Just 15 months in — we inked a joint venture with Baker Tilly, one of the top 10 firms globally.

• Gained instant credibility
• Attracted larger clients
• Upgraded internal systems and delivery

This deal changed how the market perceived us — from a young challenger to a serious consulting contender.

2023

Entered the domestic market

Beyond the Big 4 and a handful of mid-sized firms, the Indian market lacks structured, high-quality consulting options, especially for:

• Technical accounting
• Audit advisory
• Transaction support

So, we stepped in and began supporting large Indian corporates and high-growth businesses.

Built an in-house tech team

Whenever we go to our prospective clients with a proposal the CFOs and controllers ask,

“What tools are you using to streamline your client’s services? What new do you bring to the table?”

So, we started building an in-house tech enablement team

• Low-code / no-code solutions

• RPA automation

• Our own LMS, CRM, and internal platforms

This was another game-changer.

We also started hiring aggressively.

By now our clients were:

• Large corporates
• High-growth startups
• MNCs (Multinational Corporations)
• VC-backed companies
• Top U.S. CPA firms

2024: New Brand, Bigger Vision

We rebranded as Pierag Consulting – to be a global consulting firm.

By 2024

• 100+ new hires → 300-strong expert team
• Expanded client base & service lines
• Entered Southeast Asia & UK markets
• Most new clients came through referrals — a testament to our delivery quality

We had offices in:

• Gurgaon
• Bengaluru
• Jaipur
• Chandigarh
• Washington DC
• Singapore
• Mumbai recently launched

Next goal?

• Expanding our footprint in the Middle East — UAE, Riyadh, and Qatar in the pipeline
• Add 20 new Partners over the next 5 years
• Build regional leadership across our service verticals

And of course, striving, to be a truly global consulting firm.

Why did we succeed?

Like most founders when I started we had a five-year plan:

• Year 1: Build a team of 10
• Year 5: Grow to a team of 70–80

But reality outpaced our expectations!

The idea wasn’t unique—but the way we “implemented it”, that’s what we’re proud of.

So for us, these four things made the difference:

Getting the right talent: It’s not easy—Most of our team is from the Big 4 and Big 6.

Retaining talent is another big challenge

Client-centric approach: Be honest with your clients. Build trust by delivering real value, and you’ll build a business that lasts.

Evolving as an organization? Continuously adding new services? Because you can’t go to a client with just one offering!

These are the service lines we offer:

• International Audit Support (Primary focus) with a major emphasis on the U.S. market.
• Advisory and Consulting (second major pillar): Risk advisory, covering internal audits, SOX 404 compliance, business process engineering, and more.
• Technology Consulting: Cybersecurity, Emerging Tech Risk, Tech Implementation, Ongoing Tech Risk Management
• Technical Accounting (or what many call CFO advisory) is another fast-growing service line

We’re adding more service lines to better support our clients.

Also read: KPMG GCC India leader unveils big shifts & billion-dollar opportunities 

One thing we did differently…

Partnership with Pierian Services!

They brought the infrastructure and support we needed. This has helped us provide the overall suite of services.

That said, we haven’t used any external investment beyond the initial three months of support.

Wrapping up….

In the last two years, there’s been a huge surge in boutique consulting firms, focussed on the India-US consulting and outsourcing space.

The GCC industry is also poised to grow at a CAGR of almost 14% over the next five years till 2030.

More professionals are leaving large firms to start their ventures, and the opportunity is massive.

But before you jump in you need to consider:

• Technological disruptions impact
• Global market complexities

And to succeed, you need:

• Experience (at least for a few years)
• Deep market understanding,
• and a genuine focus on delivering value—not just cutting costs!

FAQs

Q: What is EY GDS?

EY Global Delivery Services (EY GDS) supports member firms and clients around the world with specialized business solutions.

EY GDS India operates from multiple locations, including:

• Bengaluru
• Gurgaon
• Hyderabad
• Kolkata
• Mumbai
• Thiruvananthapuram
• Kochi (opened in Jan’25)
• Chennai
• Coimbatore (newest addition)

Q: What type of work is performed at EY GDS?

EY GDS India supports EY’s global across various service lines, including:

Assurance:

• Audit & Financial Accounting Advisory Services (FAAS)
• Forensic & Integrity Services
• Risk advisory and compliance support

Consulting:

• Business transformation, digital & IT consulting
• Cybersecurity and data analytics
• Supply chain and finance transformation

Tax:

• International and corporate tax compliance
• Transfer pricing, indirect tax, and global mobility tax
• Tax technology and innovation

Strategy & Transactions (SaT):

• Mergers & acquisitions (M&A) advisory
• Valuations, due diligence, and restructuring services

Tech

• Artificial Intelligence (AI)
• Data Analytics
• Cybersecurity
• Engineering
• ERP Platforms

Q: What is the difference between EY GDS & EY India?

EY India is a member firm of Ernst & Young Global that delivers professional services directly to clients within the Indian market.

EY Global Delivery Services (EY GDS) primary role is to support other EY member firms across the Americas, EMEIA, and Asia-Pacific regions in executing projects.