SaaS startup SquadStack secures $17.5 Mn in Series B funding led by Bertelsmann India Investments
- ByStartupStory | August 9, 2022
The SaaS-enabled sales talent marketplace, SquadStack, has raised $17.5 million (Rs 140 crore) in a Series B round of funding that was led by Bertelsmann India Investments (BII), with its participation from existing investors like Chiratae Ventures and Blume Ventures . To help consumer businesses scale with better conversions, the startup manages to combine data science, artificial intelligence, and a decentralized network of sales experts.
The new infusion of funds will be utilised to recruit best talents to strengthen their team in preparation for future growth. It also plans to grow its sales expert base and enter new markets.
According to the co founder and CEO of SquadStack, Apurv Agrawal said ,the startup wants to revolutionise INR 80,000 Cr Indian telesales industry that lacks innovation.
The co founder further added that “We’re working towards revolutionising the Rs 80,000 crore Indian telesales industry that lacks innovation. Our combined solution of technology and human expertise solves a negative ROI problem for businesses and financially uplifts sales talent across the country. We’re looking to significantly expand our team. We believe that in the long run, great products and profit are the byproduct of a great team and work culture. We’re excited to partner with the BII team who have deep experience in scaling large platform businesses globally,”
“We have a strong bullish thesis on ‘future of work’ and SquadStack fits strongly in that as their technology provides ownership and flexibility to the large, diverse and distributed sales talent in the country. We instantly formed a connection with the founding team as we have strong convictions in their data and product driven approach to this complex problem. We are excited to partner them in this journey to transform the sales outsourcing landscape,” said Rohit Sood, partner at Bertelsmann India Investments.
It is worth noting that the noida based startup had raised nearly INR 36.8 Cr in a Series A funding round led by Chiratae Ventures in the year2020.
About SquadStack
The startup was established in the year 2017 by Apurv Agrawal, Vikas Gulati, Kanika Jain, & Rishabh Ladha. SquadStack is a Saas-Enabled Talent Marketplace for Inside Sales and started its journey to provide access to skilled work for anyone and at any possible place. They help consumer businesses that sell high-ticket products and services across various market segments (Brokerage, Lending, Insurance, E-Commerce & Edtech etc.) to improve their sales conversions and funnel efficiency.
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