EnableX, a SaaS startup puts greater bets on the telco sector to fuel growth
By Team Startupcity | Monday, 20 February 2023, 09:20 IST
Top executive of the Software-as-a-Service (SaaS)-based startup, EnableX, which has grown 50% year over year over the last two years, expects to generate revenues of $3 to $5 million in FY24. This growth has been fueled by new CPaaS business coming from telecom operators in India and around the world. "Approximately 50% of the revenue will originate from sources outside of India. In the next three years, we anticipate growing to be the largest CPaaS (Communications Platform-as-a-Service) partner for telcos, according to Pankaj Gupta, founder and CEO of EnableX.
Nowadays, EnableX has agreements with more than ten telecom carriers, to which it offers communication functions like video API, phone API, SMS API, and others. It plans to expand its alliances with more than 50 carriers. The bootstrapped business has received less than $1 million in pre-seed funding from a few overseas investors, and if more funding is required, it will consider it.
A "major Indian telco," according to the chief executive, has merged EnableX's capacity to offer video as a channel with its own portfolio of cloud communication options. The business is collaborating with a sizable operator in Europe who wants to enhance a ride-hailing app with in-app texting.
He continued by saying that CPaaS makes it possible for telecoms to go from "dumb-pipe selling" to "solution selling," which was previously impossible. He continued, "The telcos who are moving in that way and comprehend the need for solution selling are looking at the CPaaS a lot more than older telcos who are still just selling data. EnableX has a sizable customer base outside of the telecom sector, including in the HR technology sector, education, contact centres, field services, and technical support.
As per Gupta's analysis of the CPaaS market dynamics, some players will develop inside a specific sector, while others will grow as horizontal platform providers with an emphasis on no-code/low-code, user-friendly connectors and plug-ins. In Southeast Asia's Singapore, EnableX is headquartered. The business will grow into the Middle East in Q1 FY24, from which point it will serve customers in Eastern Europe. We will undoubtedly be present in the US market by the end of the year, according to Gupta.
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