Exotel raises $ 40M for its all-in-one customer communication platform - TechCrunch

Exotel raises 40M for its all in one customer communication platform

Exotel said Tuesday it has raised $ 40 million in funding round, just three months after receiving $ 35 million in funding, as the Bangalore-based startup shows growth for the platform its full-fledged consumer engagement in emerging markets.

Steadview Capital led round D of the inaugural series. Exotel, which counts Blume Ventures and IIFL Asset Management among its sponsors, has raised about $ 100 million in a combination of debt and equity rounds in the past 12 months.

Exotel offers its clients a full-fledged platform with offerings such as contact center, APIs, voice bots and chat, to communicate with their customers through touch points such as web chat, co-browsing and videos .

The Indian riding giant Oil uses the Exotel platform to send text messages to its customers. Swiggy, a food delivery giant, is responsible for the start-up schedule to comb up the phone numbers when the delivery partner notifies the customer. Relationship managers at HDFC Bank, a major bank in India, use Exotel to communicate with customers with a savings account.

This link "includes unlinked channels, bots, applications with aggregate messenger data aggregation across teams," said Shivakumar Ganesan, co-founder and CEO of Exotel. "For the first time we are enabling this over the cloud with our all-stack platform."

The startup will work in a place that has attracted the attention of several major giants, such as Microsoft, Amazon, Twilio, Salesforce and Zoom in recent years as organizations scramble to build or acquire devices to become one - stop service centers. create source.

But Exotel clearly has two distinct features in this crowded field, Ganesan said in an interview with TechCrunch. The startup will focus on serving customers in emerging markets and, unlike many of its global competitors, offers a wide range of services.

"Practically everyone in India is our customer," he said. The startup, which has also expanded to Southeast Asia and the Middle East in recent years, has amassed more than 4,000 customers, some of which it acquired after receiving a recent high Ameyo cloud center platform and AI Cogno AI introductory chat. Bajaj Allianz, City Mall, KrazyBee, Shadowfax and TCS have started using the Exotel platform in the last 12 months.

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Ganesan has influenced some of his recent growth in the pandemic, which he said has made communications technology a "source of life" for a number of enterprises and businesses in the banking, fintech and automotive industries.

"The importance of an effective communications strategy is growing over time and Exotel has successfully implemented this by empowering communications to almost every internet platform in India," Puneet Kumar, managing director at Steadview Capital, said in a statement. “We love their vision of building an end-to-end communications stack to enable customers to engage intelligently with customers and are delighted to be part of their next phase of growth. "

The startup, which employs more than 1,000 employees, today generates an annual recycling revenue of $ 50 million. It aims to grow this number to $ 200 million as it expands its offering and wins more customers. They are also looking to hire around 200 by the end of the year.

Blume's Karthik Reddy shared the story of how his company was trying to invest in Exotel, which he described as "one of the most exciting deals" he won at the time. Last year's blog post describes the struggle of the very hot start in his foolish years.

“The company had a lot of visibility in digital and traditional media as it kept going beyond the bizarre ideas. Then there was some regulatory fear. A good press can warn different competitors - from large telcos to larger funded companies. Others in the region experienced similar fears. The company had to double down to make sure they were well above the board and get any permits it needed. The bank balance fell to 14 lacs at a point in 2014-15.

Investors would show excitement and then move away. Over 6 years, between 2012 and 2022, we lost count of near missing term pages, half-hearted term pages (eg ”we invest $ 3 casual mill on another $ 3 mill promised with co-lead ”), unification and construction offers from all, Indian competitors to Asian telcos to American giants.

Clearly, the section was considered interesting enough to see Desilio Twilio appear. ”

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