Exotel receives $35 million in funding from IIFL, the Sistema Asia Fund, and others
- ByManjeet Singh | September 29, 2021
Exotel has raised $35 million in Series C funding from IIFL AMC, Sistema, CX Partners, and Singularity Growth Opportunities Fund.
Exotel is a customer communication platform founded in 2011. The company was created to help businesses communicate with their customers more efficiently and effectively. In South-East Asia, Exotel is one of the largest clients of Ola, Flipkart, GoJek, Lazada, Quikr, and Redmart. Through phone calls and SMS, Exotel helps companies communicate with their customers. Currently, Exotel serves over 6,000 companies across India, the US, SE Asia, Middle East, Australia, and Africa. The company claims to work with over 6,000 companies across India and other international geographies.
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.”
A portion of the fundraising will be used to finance the company’s recent merger with call center cloud software provider Ameyo, says Ganesan. Moreover, the company plans to use the capital to explore organic and inorganic routes to growth, as well as to boost its product offerings.
Exotel and call center software provider Ameyo announced their merger in June. Together, the companies will build a full-stack customer engagement platform in emerging markets, which will enhance customer engagement through conversational artificial intelligence capabilities.
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