ChannelTalk Achieves Annual Recurring Revenue of 36 Billion KRW Five Years After Launch

AI Phone Service Launch
Global Business Growth

Channel Corporation, the operator of the AI business messenger ‘Channel Talk,’ announced on the 31st that it achieved an annual recurring revenue (ARR) of 36 billion KRW last year. ARR is an indicator showing the revenue received annually from contracted customers and serves as a standard for predicting the status and growth of Software as a Service (SaaS) companies that offer annual contracts or subscriptions.

Channel Talk, serviced by Channel Corporation, is a business solution providing chat consultation, customer relationship management (CRM) marketing, team messenger, AI phone functions, and more. It is used by over 150,000 companies across 22 countries worldwide.

Channel Corporation explained that Channel Talk’s achievements within five years of its launch are the result of a combination of high customer satisfaction and retention rates, an increase in enterprise customers using AI phone products, and the stabilization of existing services alongside active business expansion including global business growth. Last year, the customer growth rate reached 40%. Additionally, the paid channel retention rate is 95%, and the connection rate has doubled, steadily maintaining existing customers.

The newly introduced AI internet phone ‘Meet’ last year also attracted subscriptions from industries where phone consultations are essential, such as hospitals, legal services, and education, thanks to features like converting consultation call content into text. Channel Corporation additionally secured customers such as Bullsone, Finda Direct, and Ribbons. Overseas performance is also cited as a key growth factor. Since entering Japan in 2018, 25% of sales have been generated there, with 15,000 companies locally utilizing Channel Talk.

Channel Corporation’s strategy for this year is to enhance consultation efficiency by launching new AI features. They plan to advance various functions of Channel Talk with AI, including consultation content summarization and tag recommendation, answer suggestions based on consultation content, and automatic responses through chatbots. CEO Choi Siwon of Channel Corporation stated, “This year, we will significantly reduce resources with powerful AI technology and accelerate entry into the global market by officially expanding into the United States, the home of SaaS.”