Haptik Surpasses Target Set For Quarter 1 This Financial Year

Haptik, a Mumbai-based conversational AI assistant has managed to attain 105% of its target for revenue in the first quarter itself of the financial year 2021. The achievement of target stands more significant because of the coronavirus lockdown and restricted travel which has resulted in reduced cash flow, especially from the Travel-Tech sector. 

The Reliance-owned company’s co-founder and CEO Aakrit Vaish said that there was increased interest from e-commerce, financial services, and gaming companies in the first quarter of 2020-21, which has made up for the loss in other sectors such as travel and retail.

The first three months that is from April to June, Haptik was able to acquire clients such as Ola Cabs, JioMart, Hathway, Sunstone University, accounting software Tally, Times Internet, and Junglee Games. Vaish in his statement also mentioned that e-commerce and telecom saw the highest number of customer involvement. 

The reason behind this increment in revenue is because organizations around the world realized the importance of adopting AI techniques and solutions especially during the times of Covid-19 when the need for online channels and modes was recognized globally. 

Haptik, Founded in 2013 by Vaish and Swapan Rajdev, enables customers to chat with voice assistants for businesses and to complete daily tasks such as online shopping, travel bookings, food delivery to name a few. The client portfolio has some prestigious names like Samsung, OYO, KFC, Coca-Cola, Tata Group, and Club Mahindra. 87% stake in Haptik is owned by Reliance Jio since April 2019.

In his twitter account Vaish highlighted, that Haptik has listed close to 100 solutions on its platform within this time frame. 60 more solutions are on its way and the company is working on it. Vaish further explained that a solution is a single deployment of Haptik’s intelligent virtual assistant on the brand’s website, mobile app, WhatsApp, or any other digital channel. These solutions can be brought to use anywhere between conversational commerce, lead generation, customer care, and WhatsApp.

IT ministry and the Ministry of Health and Family Welfare (MoHFW) started a special helpline, MyGov Corona Helpdesk, on WhatsApp through Haptik to answer people’s queries in the first quarter of FY2021. Haptik has claimed that it has currently,  more than 40 Mn chats and is now the world’s largest WhatsApp chatbot.

Haptik’s senior VP and business head, Kartik Poddar, had said that the company is expecting a good growth of 4-5 times during 2020 owing to a strong client pipeline. He also mentioned that the company is targeting the next phase of its evolution which will focus on three main geographies India, USA, and Southeast Asia. He plans to divide the growth equally in all three places. “We have strong momentum from the current year. We have set up our team and process for US and SEA markets and those will contribute to a large part of the growth,” Poddar had added.