Cracking Tough Markets Xoxoday Achieves a 3X Growth Organically

/ -- Xoxoday, a Bengaluru-based SaaS company, grew their revenues by 300% this year while generating a whopping Rs. 300-350 crores annualised GMV, at a close-to-zero burn rate. Xoxoday products help organisations launch reward and incentive programs in under 60 minutes that otherwise takes about 2-3 months to implement. Despite innumerous reward tech offerings in the market, many organisations still struggle to execute their reward and incentive programs efficiently. Xoxoday addresses these gaps using campaign rule engines and powerful integrations with organisational information systems like HRMS or CRMs.

Xoxoday was founded back in 2012 and they currently offer three SaaS solutions: Empuls as an employee engagement solution, Compass as a channel incentive solution and Plum as a marketing reward management solution. Xoxoday products are used by over 1 million users across 1000 enterprises world-wide. Marquee brands like Allstate, MakeMyTrip, Oyo Rooms, Flipkart, Cargill, Infosys, AT&T, are some of their clients.

This year also marked the opening of their new offices in UAE, Philippines, UK, USA, Singapore and Australia. These international markets have contributed close to 25% of their business. Interestingly, all of this growth was achieved with primarily about 4 crores of total equity capital - thus establishing one of the highest capital efficiencies in the industry.

Their co-founder and Chief of Strategy, Kushal Agarwal, says, "Every company needs rewards and incentives in one or the other form - be it for employees, sales teams, channel partners or consumers. This need in itself, speaks of the size of the market - estimated to be half a trillion dollars globally. Currently, companies flush a lot of time, energy and money to manage rewarding. Xoxoday aims to solve this problem with its one-of-a-kind technology - that too, in just under 60 minutes."
About Xoxoday: