Kovai.co, a leader in enterprise software and B2B SaaS, has announced the acquisition of Floik, a Bengaluru-based B2C SaaS startup. This strategic move is designed to enhance the functionality of Kovai.co’s AI-powered knowledge management software, Document360.
With this acquisition, Kovai.co plans to integrate Floik’s interactive product demos, videos, and guides into its platform, significantly improving the already robust knowledge base features of Document360. These additions will provide the company’s growing global customer base of over 2,500 clients with even more effective tools for managing their knowledge resources.
Floik, founded in 2020 by Vartika Bansal and Vidyasankar Krishnamurthy, has developed an Elevation Capital-backed platform that empowers companies to create engaging product demos and guides. These features allow users to smoothly navigate through software applications, which enhances both user adoption and overall experience. With a user base of over 8,000 worldwide, Floik has raised $3.52 million in funding to date.
This acquisition is expected to amplify Kovai.co’s knowledge management offerings by seamlessly integrating Floik’s tools into Document360, reinforcing the company’s dedication to innovation and supporting customer success. Kovai.co anticipates a 35% year-over-year revenue growth in its knowledge management segment following this strategic move.
Additionally, Kovai.co has welcomed six former Floik employees to its team, who will continue to drive product innovation and support the integration of the tools into Document360’s platform. Under the leadership of Vidyasankar Krishnamurthy, the team will focus on enhancing the product’s capabilities and ensuring smooth deployment for Kovai.co’s expansive customer network.
Founded in 2009 by Saravana Kumar, Kovai.co has established itself as a leading provider of enterprise software solutions, serving both the enterprise and B2B SaaS sectors with scalable products designed to accelerate revenue growth.