Total amount raised
$87.3 Millions
Latest funding date
Location
Exotel has successfully raised significant funding through multiple rounds, with notable investors including Stride Ventures and Steadview Capital. The company specializes in providing AI-powered customer engagement solutions, transforming how businesses interact with their customers.
Keep reading to explore the intricacies of Exotel's fundraising journey and the investors backing this innovative platform.
What Is Exotel?
Exotel, founded in 2011 in Bangalore, Karnataka, India, is a leading SaaS company specializing in customer engagement solutions. The company was established by Ishwar Sridharan, Shivakumar Ganesan, Siddharth Ramesh, and Vijay Sharma.
Exotel offers a comprehensive suite of products, including contact center software, communications API, and conversational AI, serving over 6000 companies across India, Southeast Asia, the Middle East, and Africa.
With a workforce of 501-1000 employees, Exotel continues to innovate in the field of AI-powered customer engagement, transforming how businesses interact with their customers.
How Much Funding Has Exotel Raised?
- Seed Round
- Amount Raised: $500K
- Date: March 2012
- Lead Investors: Blume Ventures, Mumbai Angels
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop the initial product offering.
- Seed Round
- Amount Raised: $205.9K
- Date: February 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the product and expand the customer base.
- Venture Round
- Amount Raised: ₹400M
- Date: December 2020
- Lead Investors: A91 Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product features.
- Venture Round
- Amount Raised: ₹450M
- Date: June 2021
- Lead Investors: A91 Partners, Blume Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support market expansion and product innovation.
- Series C
- Amount Raised: $35M
- Date: September 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enter new markets.
- Series D
- Amount Raised: $40M
- Date: January 2022
- Lead Investors: Steadview Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To transform into a full-stack customer engagement platform and expand market presence.
- Debt Financing
- Amount Raised: Not specified
- Date: May 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel expansion and product development efforts.
Total Amount Raised: $75.7M + ₹850M
Current Valuation: Not publicly disclosed
Key Investors
- Steadview Capital
- Details: Steadview Capital is a global investment firm that focuses on long-term investments in both public and private companies. The firm is known for its strategic investments in high-growth markets.
- Investment Focus Areas: Technology, consumer, financial services
- Notable Investments: Flipkart, Nykaa, Dream11
- Blume Ventures
- Details: Blume Ventures is an early-stage venture capital firm based in India. The firm supports startups with funding, mentorship, and strategic guidance.
- Investment Focus Areas: Technology, healthcare, education
- Notable Investments: Unacademy, Dunzo, HealthifyMe
- A91 Partners
- Details: A91 Partners is a venture capital firm that invests in high-growth companies in India. The firm focuses on providing growth capital to companies with strong market positions.
- Investment Focus Areas: Consumer, healthcare, financial services
- Notable Investments: Sugar Cosmetics, Digit Insurance, Pushp
- Mumbai Angels
- Details: Mumbai Angels is a network of angel investors that provides early-stage capital to startups. The network is known for its extensive mentorship and support to budding entrepreneurs.
- Investment Focus Areas: Technology, consumer products, healthcare
- Notable Investments: InMobi, Myntra, Purplle
- IIFL Asset Management
- Details: IIFL Asset Management is a diversified asset management firm that offers a range of investment products. The firm focuses on delivering superior risk-adjusted returns to its investors.
- Investment Focus Areas: Equities, fixed income, real estate
- Notable Investments: Not publicly disclosed
What's Next for Exotel?
Exotel stands at the cusp of significant growth, driven by the increasing demand for cloud telephony and customer engagement solutions. With a strong foothold in emerging markets like Southeast Asia and the Middle East, the company is poised to capitalize on the growing need for integrated communication platforms. The recent $40 million Series D funding will further bolster its expansion efforts and technological advancements.
Future fundraising opportunities seem promising as Exotel continues to attract investor interest, thanks to its robust growth trajectory and strategic acquisitions. However, the company may face challenges such as integrating new acquisitions and competing with established global players. Navigating these hurdles will be crucial for sustaining its momentum and achieving long-term success.
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