Exotel has raised 35 million USD as a part of its series C funding from IIFL, Sistema Asia Fund, CX Partners, Singularity Growth Opportunities Fund and angels. Existing investors 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 primarily to boost the growth of the company. Exotel & Ameyo recently announced their merger. Exotel is working on building the largest cloud based customer engagement platform in the emerging markets. The organisation is currently growing 70% YoY and is at an ARR of 45 million USD.
CPaaS is a $6Bn 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 are delighted to partner with them and expect them to become a globally relevant platform in the years to come, commented Sumit Jain, Senior Partner, Sistema Asia Fund.
Speaking on this occasion, Shivakumar Ganesan (Shivku), CEO & Co-founder of Exotel mentioned: Our desire to enable enterprises with the best in customer engagement is one step closer to reality. We 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 is looking to hit an ARR of 200 million USD over the next 5 years.
Exotel is Asia leading customer communication platform. Incorporated in 2011, Exotel was co-founded by three engineers to help businesses bring order and efficiency to customer communication. Working with some of the fastest growing companies in Southeast Asia (Ola, Flipkart, GoJek, Lazada, Quikr, Redmart, etc.), Exotel helps them manage their customer communication over calls & SMS. Exotel world-class, cloud-based solution simplifies customer communication for over 6000 companies in India, USA, SE Asia, Middle East, Australia and Africa.