Global software-as-a-service company - Kissflow Inc - has drawn up plans to set up offices overseas as part of tapping the USD 40-billion low code, no code software solutions business, a top company official said here on Friday.
The city-based company on Friday presented German luxury BMW cars to each of the five senior management officials who have been with the firm since inception.
The 5 series models are priced at Rs 1 crore each.
"We have customers in 160 countries, including in far-off places like Iceland. We will be targeting the low code, no code solutions market valued at USD 40 billion. We have plans to open offices in multiple countries", company CEO Suresh Sambandam told reporters.
The company, as part of stepping up presence overseas, has opened an office in Dubai and plans to open three in the United States of America, one each in Latin American market and Philippines to serve the South-East Asian market, he said.
To a query, he said the company would require to spend a minimum of USD 10 million for the proposed expansion plans.
More From This Section
According to Sambandam, 92 per cent of the company clients were outside India while the remaining eight per cent were in domestic market; that was one of the reasons to open offices overseas.
The company was also strengthening its footprint in Indian market with appointment of regional sales directors in all the four regions. Sambandam said the management bought back the shares held by external investors with him being the majority shareholder.
"We have taken funding of USD 1 million from investors," he said to a query.
Referring to the presenting of the BMWs to the five people, Sambandam said he was honouring them as they were with him right from the inception.
"These five were with me when I dug 100 feet for gold (setting up Kissflow) while others left the organisation midway," he said.
Asked on attrition rate, he said it was during Covid-19 pandemic the company did face some issues on employee retention and now it was normal.
"We have plans to hire about 150 people this year (to the total 430 employee base)", he said.
The recipients of the cars include -- Kissflow chief product officer Dinesh Varadharajan, director (Product Management) Kausikram Krishnasayee, director Vivek Madurai, director Adhi Ramanathan and vice-president Prasanna Rajendran.
"These are the five people who stayed with me in the trenches. Without them Kissflow would not be where it is today, and this is a very small token of appreciation. I feel happy to see them enjoy it with their families," Sambandam said.