Bengaluru-based full-stack customer engagement platform It has reported profits with positive EBITDA in the third and fourth quarters of FY24.
The company reduced its annual loss by 65% in FY23 to Rs. 108.8 crore in FY24 to Rs. 38.8 crore, while revenue rose from Rs 420 crore to Rs 445 crore during the same period.
Adarsh Kumar, CFO of Exotel, attributed the company’s transformation to its focus on AI-driven initiatives, which have been the cornerstone of the company’s growth.
“It’s a combination of a number of factors. First, we’re growing our business in what we think is the future for all of us — the AI side of the business. That’s excited us and we’re seeing a lot of traction in that space, it’s future-proofing our business and growth opportunities.” creates a major driver,” Kumar said. your story.
With this momentum, Exotel is projecting 100% annual EBITDA growth for FY25 as it strengthens its market leadership by adopting emerging technologies.
“Secondly, we have focused on improving operational efficiency. Together, these factors set us up to achieve EBITDA profitability in FY25 and beyond,” he added.
The company has also expanded into high-growth international markets, including Saudi Arabia, the UAE and the United States, opening up new revenue streams and strengthening its global presence.
Exotel serves more than 7,000 customers globally — including Ola, Swiggy, Uber, and HDFC Bank — enabling more than 25 billion annual conversations through its integrated platform, it said in a statement.
“Sustainable profitability is a function of many things. We must constantly innovate to offer new products to our existing customers. We are definitely focused on the international market … but domestic continues to be our mainstay, and the market itself is very exciting,” Kumar said.
“Digital-native companies like the Swiggys and Zeptos of the world are growing exponentially, some achieving 60% to 100% year-on-year growth, and their growth is linked to ours,” he added.
Harmony, the company’s flagship AI-powered enterprise solution, integrates generative AI voice bots and conversation quality analysis (CQA) to integrate conversations, context, and workflows across channels.
The platform has enabled businesses to provide personalized customer interactions, make real-time decisions with intelligent routing, and collaborate between AI and human agents. It also offers tailored industry-specific capabilities for BFSI, healthcare, ecommerce, and other sectors.
Looking ahead, Exotel aims to continue its growth trajectory by continuing to invest in AI, expanding its global footprint, and helping enterprises achieve better customer outcomes.
“As a company, we are poised for double-digit revenue growth in FY25 and beyond. We aim to grow the profit vector for the next 2-3 years, ensuring strong opportunities for our investors,” announced Kumar.
Founded in 2011 by Shivakumar Ganesan, Ishwar Sreedharan and Sachin Bhati, Axotel integrates AI-powered solutions that integrate conversational AI, CCaaS (Contact-Center-as-a-Service) and CPaaS (Communication-Platform-as-a-Service). Integrates. ) on a single, scalable platform. The company combines chatbots, voicebots, and AI-powered insights to create meaningful customer interactions.
“We are delighted to have partnered with Exotel for the past four years. The company’s commitment to continuous improvement and transforming customer engagement through AI will allow Axotel to maintain its industry leadership position while continuing its financial growth path,” Gautam Mago, general partner at A91 Partners, said in a statement.
In 2022, Exotel secured $40 million (Rs 298 crore) in a Series D funding round. . To date, the startup has secured around $100 million through various debt and equity rounds.