Ozonetel raises $5 million in Series A funding from Stakeboat Capital
- ByStartupStory | October 7, 2021
Ozonetel, an on-demand cloud communications services provider, said on Wednesday it has raised $5 million (about Rs 37.5 crore) from Bengaluru-based private equity fund Stakeboat Capital.
The funds will be used to expand operations in the United States and double its workforce in the coming year, according to a statement from the 11-year-old company that began a contact/call center asa service (CCaaS) offering. Ozonetel entered the US market in 2019 and is making rapid strides having onboarded channel partners and customers. This Series A round will enable the company to grow its sales and marketing teams in the US while continuing to focus on SEA and the Middle East and expanding its presence in India. The company will soon be releasing its AI-driven Unified Channel Experience Management (UCXM) platform for voice and digital channels, empowering businesses to design and deliver consistent customer experience across communication channels.
Every day more than 100,000 call center agents use Ozonetel’s CCaaS platform ‘CloudAgent’ making Ozonetel one of the largest CCaaS players. The company’s cloud telephony platform currently handles more than 10 million calls per day. More than 10,000 developers use Ozonetel’s CPaaS (Communications Platform-As-A-Service) platform to integrate voice, SMS, WhatsApp, and other communication channels into their products.
“This is an important time for us to expand our business, and we are particularly looking to expand our presence in the United States. We expect to reach $100 million ARR (annual recurring revenue) over the next four years,” said founder and CEO CSN Murthy.
Ozonetel experienced 100 pc growth in business growth and has doubled its customer base in the past 12 months. It employs 15,000 home-based agents from various sectors.
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