Aakrit Vaish, the Co-Founder & CEO of Haptik, envisions achieving profitability and annual subscription revenue totaling $100 million within the next five years. In an interview with CNBC-TV18, Vaish outlined the company's ambitious goals, which include expanding its presence from the current six countries to 20 and facilitating one billion AI-driven interactions each week.

"From a five year standpoint, we have three goals. First is our product goal, which is that we want to power a billon AI driven interactions a week. Currently we do a billion interactions in a month, we want to get to a point where we power a billion AI driven interactions in a week."

"Second, is from a global standpoint, currently we operate in about 6 countries, and we want to be present in 20 countries including most of the developed world where software is bought and sold. Third is the revenue and profitability metrics - we are close to being profitable and revenue-wise the idea is to hopefully cross $100 million in annual subscription revenue soon," Vaish said.

Established in 2013, the startup leverages generative AI-powered conversations to assist brands in engaging with their customers. Haptik currently commands a substantial market share, accounting for approximately 30 percent in India.

Vaish is also optimistic about maintaining a robust annual growth rate of 100 percent for the foreseeable future.

"We have now been growing 100 percent year on year for the last five years. For a couple of years it was 150 percent. As any good SaaS company would tell you, I think doubling year on year is really the bare minimum expectation even in these markets. Our idea is to continue down that path. This year again we are looking at close to doubling."

"Next year we hope to grow even more because everything in generative AI that we are building today will finally catch on in terms of customers closer to next year and so for next year we are looking at even more faster growth," he said.

Watch accompanying video for entire conversation.

First Published:Aug 30, 2023 9:24 PM IST