Kovai.co, a multi-product SaaS company based out of Coimbatore, is looking at increasing its employee strength here to 300 - 320 by the end of next year.
The bootstrapped company, which inaugurated a 40,000 sq.ft office here recently, employs 240 people now and is looking at adding 60 to 80 people by the end of 2022.
Saravana Kumar, founder and CEO of Kovai.co, said the company was also targetting an annual revenue of $ 30 million by the end of 2024 from $ 10 million in 2020.
As Kovai.co aimed at becoming a SaaS-Unicorn by 2030 and build markets in India and globally, it would launch one new product in 2022. With that, it would have five products and would look at scaling these up. It would get into building more new products in 2023. It had a customer base in 60 to 70 countries now and had so far invested nearly $ 25 million. “We do not see a necessity, at least till the end of 2022, for external funding,” he said.
Secretary for Information Technology for Tamil Nadu government, Neeraj Mittal, said, “In the recent years, start-up and product ecosystem in the country has picked up steam, with software companies spearheading the growth - especially in our state of Tamil Nadu. Our focus is to build multiple world-class IT eco-systems across the State as it helps spur economic growth evenly.”
