Exotel, the Largest Cloud based Customer Engagement Platform in Asia, raises 35 million USD in Series C funding

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September 29th, 2021, Bengaluru:

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.

About Exotel

Exotel is the leading provider of cutting-edge SaaS solutions for customer engagement. With over 20 billion annual engagements across voice and messaging channels, Exotel is trusted by more than 6000 clients worldwide, spanning industries such as BFSI, Logistics, Consumer Durables, E-commerce, Healthcare and Education. We prioritise compliance and security, ensuring peace of mind for our clients.

At Exotel, we are committed to innovation and customer satisfaction. Our cloud-based platforms, including Communications Platform as a Service (CPaaS), Omnichannel Contact Center Platform (CCaaS), and Conversational AI engine, empower businesses to deliver exceptional experiences across all touchpoints. By harnessing the power of conversational context, our AI-driven solutions enable hyper-personalized interactions, seamless channel switching, and efficient query resolution.

Exotel stands out for achieving a 44% increase in conversion rates, 30% reduction in call centre costs, and a 4x improvement in agent efficiency. We deliver fast time-to-value, cost efficiency at scale, and enterprise-grade security and reliability.

Unlock the potential of every conversation with Exotel. Experience the future of customer engagement with a partner dedicated to driving your business forward. Welcome to Exotel, where success begins with every conversation.

For more info, visit: https://exotel.com

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