Exotel has raised 35 million USD as a part of its series C funding from IIFL AMC, Sistema Asia Fund, CX Partners, Singularity Growth Opportunities Fund, and Arun Sarin, Ex-CEO of Vodafone who has also joined the round as an angel investor and a mentor. Existing investors Blume Ventures and A91 Partners also participated in this round. Bangalore-based investment bank, IndigoEdge, was the exclusive banker for the transaction.
This fresh infusion of funds will be used primarily to boost the product offerings of the company. Exotel & Ameyo recently announced their merger. The combined entity will focus on building a full stack customer engagement platform in the emerging markets to accelerate communication to the cloud and providing conversational AI capabilities for improved customer experience. The organisation is currently growing 70% YoY and is at an ARR of 45 million USD.
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’re building the market’s first cloud based full-stack engagement suite by bringing in Ameyo’s contact center capabilities on top of Exotel’s cloud communication infrastructure.” Commenting on how the product suite enables enterprises, Shivku said “The platform will offer an easy way for businesses to communicate with customers over voice, chat, SMS, WhatsApp, and video without losing context.”
Expressing their trust in Exotel, Sumit Jain, Senior Partner, Sistema Asia Fund said “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”
Speaking of creating an offering on unified customer data, Sachin Bhatia, CEO of Ameyo, mentioned “This is a step in the right direction that allows Exotel to invest further in bringing seamless customer engagement on the cloud to emerging geographies. The convergence of customer data coupled with conversational AI capabilities will enable enterprises to monitor conversations, build smarter bots and assist customer service teams in realtime”
Exotel is looking to hit an ARR of 200 million USD over the next 5 years and is planning to increase its headcount by 200 over the next 12 months.
In today's dynamic business landscape, customer expectations are constantly evolving. Businesses face the challenge of balancing the need for increased revenue, optimised costs, and exceptional customer experience (CX). Exotel steps forward as your transformative partner, offering a comprehensive AI-powered communication solution designed to address all three!
We leverage the cutting edge of AI to create co-pilots. These intelligent assistants seamlessly integrate across all communication channels (omnichannel), enabling hyper-personalized interactions with every customer. Imagine empowered agents receiving real-time guidance, leading to faster conversions and improved lead nurturing.
Exotel's impact extends far beyond the agent experience. AI co-pilots automate repetitive tasks, freeing up valuable resources and reducing operating costs. Additionally, AI-powered self-serve options empower customers to find answers independently, boosting overall CX. Exotel goes beyond just technology. We partner with you to craft customised solutions that unlock the true potential of AI-driven communication.
Let Exotel be your guide through the ever-changing business landscape and a partner for all things from customer engagement to customer experience. We'll help you achieve your unique goals while empowering every conversation like a friend.
For more info, visit: https://exotel.com
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