Kovai.co said it will continue its hiring trend and will invest in the local community while making investments in R&D, acquisitions, and business investments over the next few years for geographic expansion.
The Founder and CEO of the Coimbatore based emerging Software as a Service product company Saravana Kumar said this on Thursday as the company celebrated its 10th anniversary. He went on to add that the company reached the $10 million in annual revenue milestone in 2020 and is looking to become a unicorn by 2030.
“We are proud to celebrate 10-years of being a bootstrapped profitable SaaS company. It reflects the trust of our 1500+ enterprise customers, the capabilities of our employees, and our ability to innovate new products over time. Looking ahead, we remain focused on growing the product portfolio, build and nurture local talent, have lateral hires who will help us grow further, and turn Coimbatore into the next big SaaS hub in the country,” Kumar said.
Founded in 2011, Kovai.co presently employs more than over 250 people in multiple countries and markets. It is also planning to extends its Kovai.co Connect program – an industry-academia initiative focusing on imparting education on emerging technologies to students across Tamil Nadu, especially from tier-2 cities.
“Our Kovai.co Connect program will be taken to educational institutions across the state to train students as per industry needs and make them SaaS-ready. We have had some success on this front over the last two years. Even during the pandemic, our team completed the training of 50+ students in and around Coimbatore virtually. With Kovai.co Connect, we aim to increase the product development and tech capacity of students through innovation and collaboration,” Kumar added.
Kumar also mentioned that the company has serviced over 1500 global enterprise customers. He went on to add that the model that Kovai.co wanted to propagate was one that would encourage building global businesses from smaller towns and cities.
The company’s first launch – BizTalk360, a platform for operations and monitoring, and analytics for Microsoft’s BizTalk Server started gaining momentum in mid-2011. Later, Kovai.co established a full-fledged innovation and R&D-focused office when they reached a milestone of 145 customers within three years.
Microsoft honoured Kumar with the “Integration MVP of the Year” award for his contribution towards Microsoft Integration platforms.
Since then, Kovai.co has been focusing on its growth through R&D, product innovation, and launching new products that are performing across verticals, including Serverless360 and the most recent Document360.
In 2020, Kovai.co acquired Cerebrata to act as a complementary product for Serverless360.
Source: Economic Times