Kovai.co, an AI-driven SaaS startup based in Coimbatore, Tamil Nadu, has reached a major milestone by rewarding its employees with a generous bonus. Founded in 2011 by Saravanakumar, the company now generates $15 million in annual revenue and is valued at $100 million, all without external funding.
Rs 14 Crore Bonus for 140 Employees
Fulfilling a promise made three years ago, Saravanakumar distributed a total of Rs 14 crore in bonuses to 140 employees. He had assured them that those who remained with the company until January 2025 would receive six months’ salary as a bonus. Unlike many startups that offer shares, he wanted his employees to receive something tangible.
Serving Global Clients with Innovative SaaS Products
Kovai.co serves top global clients like the BBC, Boeing, and Shell with its three key products:
- Turbo 360: Helps customers save up to 30% in cloud costs.
- Document 360: Assists businesses in creating and maintaining their Help pages.
- Biztalk 360: Integrates backend applications like SAP and Salesforce.
Aiming for Unicorn Status
Saravanakumar, who lives in London, envisions Kovai.co becoming a unicorn with $100 million in revenue by 2030. While 250 employees work from Coimbatore, he frequently visits his hometown, Mettupalayam.
Passion for Cars Takes a Backseat
Known for his love of luxury cars, Saravanakumar had planned to buy a Bugatti Chiron. However, he prioritized his employees’ bonuses instead. For now, his Lamborghini and Porsche will have to suffice as he focuses on scaling Kovai.co to new heights.
