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Kovai.co provides business-to-business software solutions and counts giants like BBC, Boeing and Shell among clients
Today, Kovai.co’s annual revenue is $15 million and its total value is estimated to be $100 million. (News18 Hindi)
An AI startup company from Coimbatore has done what most startups only dream of doing. The company, named Kovai.co, has given a bonus of Rs 14 crore to its 140 employees.
Kovai.co is named after the city of Coimbatore. This startup provides business-to-business software solutions (SaaS) and was started by Saravanakumar in 2011. Today, this company is providing its services to big corporations like BBC, Boeing and Shell.
Its founder, 48-year-old Saravanakumar, belongs to Coimbatore but had moved to London 25 years ago. Saravanakumar said that he was an ordinary IT employee for 10 years, but when he saw a void in the market, he decided to start his own company in his hometown.
Kovai.co is a completely bootstrapped startup with no external investment. It offers three major products – Turbo 360, Document 360 and Biztalk 360. Turbo 360 helps reduce cloud costs by up to 30%. Document 360 helps companies create and update help pages, while Biztalk 360 connects backend applications like SAP, Salesforce on one platform.
140 Employees Got A Reward Of Rs 14 Crore
Today, Kovai.co’s annual revenue is $15 million and its total value is estimated to be $100 million. When Saravanakumar was asked why he gave such a big bonus to his employees, he answered: “Why do people work in startups? They hope to become rich, but in most startups, employees get shares, which are only on paper. I thought of giving something concrete to my employees. Three years ago, I said that if they stay with us, they will get a bonus equal to six months’ salary in January 2025.”
Saravanakumar kept his promise and gave a total bonus of Rs 14 crore to 140 employees. His dream is to make Kovai.co a unicorn company. His goal is to achieve revenue of $100 million by 2030.
- Location :
Coimbatore, India, India
