Conversational and Enterprise AI start-up Uniphore will go public only if conditions are "conducive" for an IPO, according to co-founder and CEO, Umesh Sachdev. The company's priority, Umesh said in a chat with CNBC-TV18, is to hit an annual recurring revenue (ARR) target of $1 billion over the next "three to four years".

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"Getting listed is a natural outcome for us, given the size of our business," said Umesh, "But our focus is on the window of opportunity which will see us become the world's largest enterprise AI company." He added: "Uniphore is targeting $1 billion ARR over the next three to four years. In the meanwhile, if conditions turn conducive, we will get listed."

The last couple of years have seen IIT-Madras-incubated Uniphore, which traces its origins to 2008, move up the enterprise AI ladder. It made twin acquisitions last year, buying out UK-based conversational AI start-up Red Box and French behavioural AI start-up Hexagone.

Both acquisitions took place even as Uniphore secured series-E funding, which saw investors March Capital among others infuse $400 million in the company, to bring its total funding to $650 million. The start-up also crossed $100 million in ARR, last year.

The acquisitions have birthed Uniphore's vertical data-to-AI integrated platform with voice-recognition and emotion AI capabilities that will be available to thousands of customers across 20 countries. Simply put, Uniphore's capabilities have moved from conversational AI to also include video, voice and text, all of which are integrated to its multi-modal platform.

On Tuesday, the start-up inaugurated its AI Innovation Hub in Chennai, one of its largest offices in the world. The centre is expected to be the site of new research into generative AI and emotion AI. Its location in Chennai is also a testament to Uniphore's direction in the not so distant future.

"I see enthusiasm and willingness in India to engage in AI disruption much like what we see in North America and Europe," said Umesh, adding that India and the Middle East could become top markets for AI disruption: "I wouldn't be surprised if India sees an acceleration in AI-driven initiatives and spending."

At present, North America accounts for over half of Uniphore's revenues, with Europe and parts of Asia like India and Singapore bringing up the rest. The start-up is looking to deepen its market presence in Europe, moving beyond UK, Ireland, France and Germany, where it has a relatively stronger presence. Umesh said a foray into Latin America was also on the cards.

Even as the start-up secured its largest tranche of funding and Unicorn status in February 2022, it also turned profitable for FY-22, registering approximately Rs 33 crore in profit. Umesh acknowledges that Uniphore has "learnt to deliver strong unit economics" even as it continues to invest heavily. He added that the start-up was looking at another year of great growth, with added emphasis on unit economics.

"We will keep growing even as we continue to invest in new technology, languages and geographies," said Umesh, "We have projected 70 percent growth this year, we plan to beat that projection." He added that no further fund-raise plans were in the offing anytime soon: "The plan is to put our heads down and use our funding from last year to invest in new technology — we will decide on future funding next year."