Tag: Exotel

Exotel raises $35 million funding from IIFL AMC, Sistema Asia Fund, others, BFSI News, ET BFSI

Personal Finance

[ad_1]

Read More/Less


Customer communication platform Exotel on Wednesday said has raised USD 35 million (about Rs 259.5 crore) in funding from IIFL AMC, Sistema Asia Fund, CX Partners, Singularity Growth Opportunities Fund and others.

Existing investors, Blume ventures and A91 capital along with angel investors also participated in the series C round, a statement said.

Arun Sarin, former CEO of Vodafone, has also joined the round as an angel investor and a mentor, it added.

The fresh funds will be used primarily to boost the growth of the company, it said.

“We’re investing heavily in building the market’s first vertically integrated full-stack engagement suite with interoperability of channels and convergence of customer data to enable enterprises to have multimodal conversations with customers. We are going to be expanding our team and doubling our headcount over the next 12 months,” Exotel CEO and co-founder Shivakumar Ganesan said.

Exotel, which had recently announced a merger with Ameyo, said the organisation is currently growing at 70 per cent year-on-year and is at an ARR (annual run rate) of USD 45 million. Exotel is looking to hit an ARR of 200 million USD over the next five years.

“CPaaS (Communications Platform as a Service) is a USD 6 billion market in India and SEA (South East Asia) and one of the fastest growing technology areas in the post-COVID world. Exotel has quietly emerged as the CPaaS platform of choice in India through their market-best reliability and comprehensive product suite,” Sumit Jain, Senior Partner at Sistema Asia Fund, said.



[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , ,

Exotel raises $35 million in series C funding

Banking & Finance

[ad_1]

Read More/Less


Customer communication platform Exotel has raised $35 million in Series C funding from IIFL, Sistema Asia Fund, CX Partners, Singularity Growth Opportunities Fund and angels.

Existing investors such as Blume Ventures and A91 capital also participated in this round. Arun Sarin, Ex-CEO of Vodafone, has also joined the round as an angel investor and a mentor. This fresh infusion of funds will be used by the company to primarily boost its growth. Exotel recently announced its merger with Ameyo.

The organisation claims to be growing 70 per cent YoY and is at an ARR of $45 million and aims to hit an ARR of $200 million over the next five years.

“CPaaS is a $6-billion market in India and SEA and one of the fastest growing technology areas in the post-Covid world. Exotel has quietly emerged as the CPaaS platform of choice in India through their market-best reliability and comprehensive product suite. We expect them to become a globally relevant platform in the years to come,” commented Sumit Jain, Senior Partner, Sistema Asia Fund.

To double headcount

Commenting on the fund raise, Shivakumar Ganesan (Shivku), CEO and co-founder of Exotel, said, “Our desire to enable enterprises with the best in customer engagement is one step closer to reality. We’re investing heavily in building the market’s first vertically integrated full-stack engagement suite with interoperability of channels and convergence of customer data to enable enterprises to have multimodal conversations with customers. We are going to be expanding our team and doubling our headcount over the next 12 months.”

Started in 2011, Exotel is a customer communication platform. It was started with the vision to help businesses bring order and efficiency to customer communication. Some of the clients of Exotel in South-East Asia include Ola, Flipkart, GoJek, Lazada, Quikr and Redmart. Exotel helps these companies to manage their customer communication over calls and SMS. Exotel currently serves over 6,000 companies across India, the US, SE Asia, Middle East, Australia and Africa.

[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , , ,