AI-first SaaS Voice Automation Startup Skit Raises $23M From WestBridge Capital

• BySheetal Sidhu     |    September 1, 2021

AI-first SaaS voice automation startup Skit (formerly known as vernacular.ai) has secured $23 million as part of its Series B funding to fuel the next level of growth and product evolution. The investment was led by WestBridge Capital with participation from Kalaari Capital and Exfinity Ventures, Angelist syndicate led by Aaryaman Vir Shah from Prophetic Ventures, and LetsVenture syndicate led by Sense AI. The startup said it will use the funding for sales and marketing, building delivery capabilities, R&D to speed up innovation, and to further enhance the company’s products while expanding globally. The fundraising follows its Series A announcement in May 2020, led by Exfinity Ventures and Kalaari Capital, AngelList, with IAN Fund and LetsVenture also participating in the round. This Series B funding brings the startup’s total fundraise to $30 million. The startup plans to double down and scale operations in both Indian and global markets.

Since the last fundraise, Skit claims to have been able to increase its revenue and customer growth by over 4x building a strong partner network across industries such as banking, insurance, ecommerce, consumer durables, travel and logistics, among others. It has strengthened its workforce by over 6x to prepare for future growth.
Sourabh Gupta, CEO and Co-founder of Skit, said, “This investment comes when we are making strategic inroads into the US and SouthEast Asian markets. Clients and investors alike have recognised the uniqueness and superiority of our product and continue to show confidence in our growth path. The global contact center market size is expected to grow steadily and reach a value of $496 billion by 2027.”

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