A Coimbatore-based artificial intelligence SaaS startup, Kovai.co, recently made headlines by awarding a ₹14 crore bonus to 140 employees. The company’s founder, Saravanakumar, explained that this decision was rooted in a promise made three years ago. He assured his employees that those who remained with the company would receive a bonus equivalent to six months’ salary in January 2025. Keeping his word, he delivered on that commitment, emphasizing the importance of providing real financial benefits rather than just stock options, which often hold uncertain value.
Saravanakumar believes that many professionals join startups with the hope of achieving financial success. However, equity-based rewards in many companies remain theoretical until a major financial event, such as an acquisition or public listing. By offering a direct cash bonus, he ensured that his team’s loyalty and hard work were tangibly rewarded.
Founded in 2011, Kovai.co specializes in business-to-business software solutions and has built a strong reputation in the industry. The company provides products like Document360, which helps organizations create and manage knowledge bases, BizTalk360, which integrates backend applications like Salesforce and SAP, and Turbo360, designed to optimize cloud computing costs. Major global corporations, including BBC, Boeing, and Shell, are among Kovai.co’s clients.
Saravanakumar, once an IT employee, spent a decade in the industry before establishing Kovai.co. Having moved to London 25 years ago, he saw a gap in the market and leveraged his expertise to build a $100 million startup. His story exemplifies the potential of innovation, persistence, and rewarding employee commitment.
