SaaS Unicorn Uniphore Turns Profitable In FY22, Operating Revenue Zooms Over 9X

Conversational automation startup Uniphore turned profitable in the financial year ending March 31, 2022, posting a consolidated net profit of INR 33.4 Cr. The unicorn had reported a net loss of INR 281.8 Cr in FY21.

Total revenue jumped 9.5X to INR 743.6 Cr in FY22 from INR 78.1 Cr in FY21. Operating revenue jumped 847.4% to INR 674.6 Cr from INR 71.2 Cr in FY21. 

As per its financial statements, the startup earns revenue primarily from SaaS subscriptions and on-premises term software licence associated with maintenance. Apart from these, it offers services which help businesses with training and configuration. It also has managed services offerings for enterprises.

Uniphore generates a majority of revenue from the US region. The startup earned INR 642.8 Cr from the US market, whereas Singapore continued to be the second biggest market with revenue of INR 31 Cr. The Indian market contributed a mere INR 79.2 Lakh to its total revenue in FY22. 

Total expenses rose 96% to INR 694.1 Cr in FY22 from INR 353.4 Cr in FY21, with employee benefit expenses being the biggest contributor to total expenses. In FY22, Uniphore spent INR 330.6 Cr on employee salaries, PF contribution, gratuity, and other employee benefits, a 76% jump from INR 187.7 Cr in FY21. 

The startup spent INR 134.3 Cr on legal expenses, a 191% increase from INR 46.2 Cr in the previous year. 

Uniphore entered the unicorn club last year after bagging $400 Mn in a funding round led by NEA. The round helped Uniphore’s valuation soar to $2.5 Bn.

The startup then said that it would utilise the fresh capital to work on advancements in voice AI, computer vision, and tonal emotion, and expand its business operations globally, specifically in North America, Europe and Asia Pacific.

Founded by Ravi Saraogi and Umesh Sachdev in 2008, Uniphore combines conversational AI, workflow automation, and RPA (Robotic Process Automation) in a single integrated platform to transform and democratise customer experiences across industries.

Last year, the startup announced acquisition of Colabo, an AI-powered knowledge automation solution provider. The startup integrated Colabo solutions on the Uniphore platform to help enterprises leverage AI to extract knowledge entities and graphs from structured and unstructured data.

Uniphore competes against the likes of Yellow Messenger, Skit.ai, and Reliance-owned Haptik. It is worth mentioning that Skit.ai, which is backed by WestBridge Capital, last week laid off around 115 employees, or around 35% of its total workforce.