+1-888-308-5802      . .

Exotel secures USD 40 million in Steadview Capital-led Series D funding

Author : Pankaj Singh | Published Date : 2022-01-05 

Exotel secures USD 40 million in Steadview Capital-led Series D funding

Cloud communication startup Exotel has reportedly raised USD 40 million in a Series D funding round that was led by Steadview Capital. The startup intends to revolutionize its platform into a primary interface for full-service customer interaction.

According to reports, the fresh funds will be utilized to expand into countries in the Middle East and Southeast Asia. Amidst the rising demand for cloud telephony, Exotel expects steady growth in the upcoming years.

Although the cloud telephone company has been bootstrapped for most of its existence, the new funding has allowed it to reach a valuation of USD 100 million in only 15 months. It claims to have an annualized revenue return (ARR) of USD 50 million and is expanding at a rate of 70%.

Ravi Mehta, the founder of Steadview Capital, asserted that given the current pandemic situation, customer commitment is fundamental to the success of any business and Exotel has emerged as the appropriate solution for the same.

It is worth noting that Exotel has acquired over 1300 customers in the last year alone, including Bajaj Allianz, City Mall, Tata Consultancy Services (TCS), ITC Salaam (Saudi Arabia), Shadowfax, and Krazybee among others.

Exotel's CEO and co-founder, Shivakumar Ganesan, stated that the startup is on the path of progressing from a business that communicates with its customers to one that engages with them through various mediums such as chat, voice, video, email, and bots.

Ganesan further added that enterprises are looking to unify their customers' journeys by connecting separated channels, and applications among others via the cloud to give the users a full-stack experience.

Sources claimed that Exotel was able to drive demand due to its recent merger with Ameyo, a contact center platform, and the acquisition of Cogno AI, a conversational AI platform that is enabling the ease of communication for the venture.

Notably, the tech firm is also searching for more acquisition targets to enhance its users' full-stack building experience.

Source credit:

https://economictimes.indiatimes.com/tech/funding/exotel-raises-40-million-from-steadview-capital-others/articleshow/88677457.cms

About Author

Pankaj Singh . .

Pankaj Singh

Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605

Related News

Tata Motors to use Ford’s Gujarat facility to power its EV ambitions

Tata Motors to use Ford’s Gujarat facility to power its EV ambitions

Published Date: 2022-08-08         Author: Pankaj Singh

Ford India Private Limited (FIPL) and Tata Passenger Electric Mobility Limited (TPEML), a division of Tata Motors Ltd., have reportedly signed a Unit Transfer Agreement (UTA) for the purchase of Ford’s production facility in Sanand, Gujarat. Tata intends to produce and distribute electric a... Read More>>

Hyundai Motors to export 27 XCIENT Fuel Cell trucks to Germany

Hyundai Motors to export 27 XCIENT Fuel Cell trucks to Germany

Published Date: 2022-08-05         Author: Pankaj Singh

Hyundai Motors, a South Korean multinational automotive manufacturer, is set to export around 27 XCIENT Fuel Cell trucks to Germany. The heavy-duty vehicles are set to be used by manufacturing, retail, and logistics firms. Earlier this week, the automotive giant said that around seven companies, ... Read More>>

EA SPORTS & LaLiga ink deal to bring new experiences for LaLiga fans

EA SPORTS & LaLiga ink deal to bring new experiences for LaLiga fans

Published Date: 2022-08-03         Author: Pankaj Singh

Video gaming giant, Electronic Arts Inc. (EA), and leading football league, LaLiga, have reportedly announced a multi-year, one-of-a-kind, partnership that would allow both players to bring ground-breaking experiences to football fans across the globe. As per reports, starting the 2023-2024 LaLig... Read More>>

© 2022 Fractovia. All Rights Reserved