Total amount raised
$7.1 Millions
Latest funding date
September, 2020
Location
SquadStack has successfully raised funding through multiple rounds, attracting a diverse group of investors. The platform leverages a blend of AI and human expertise to enhance customer experience and telesales for top brands.
Keep reading to explore the intricacies of SquadStack's fundraising journey and the investors backing this innovative platform.
What Is SquadStack?
SquadStack, founded in 2014, is headquartered in Noida, Uttar Pradesh, India. The company was established by Apurv Agrawal, Kanika Jain, Rishabh Ladha, and Vikas Gulati.
Specializing in AI-driven contact center solutions, SquadStack combines artificial intelligence with human expertise to enhance customer experience and telesales for top brands. Their offerings include a Humanoid AI Agent, vetted telecallers, and AI-powered quality audits.
With a team of 251-500 employees, SquadStack continues to innovate in the field of customer support and telesales, driving higher conversions and reducing costs for their clients.
How Much Funding Has SquadStack Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: February 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and initial development.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: May 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the product and expand the team.
- Seed Round
- Amount Raised: $2.1M
- Date: April 2017
- Lead Investors: Blume Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Series A
- Amount Raised: Not publicly disclosed
- Date: February 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve technology.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: January 2019
- Lead Investors: Smile Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and enter new markets.
- Series A
- Amount Raised: $5M
- Date: September 2020
- Lead Investors: Chiratae Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance AI capabilities and expand the team.
- Series B
- Amount Raised: ₹1.4B
- Date: July 2022
- Lead Investors: Bertelsmann India Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To hire top talent, expand sales expert base, and venture into new verticals.
- Non-Equity Assistance
- Amount Raised: Not publicly disclosed
- Date: September 2023
- Lead Investors: JioGenNext
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational growth and technological advancements.
Total Amount Raised: $7.1M + ₹1.4B
Current Valuation: Not publicly disclosed
Key Investors
- JioGenNext
- Details: JioGenNext is the startup accelerator program of Reliance Industries Limited. It focuses on nurturing and scaling innovative startups in India.
- Investment Focus Areas: Technology, startups, innovation
- Notable Investments: Various tech startups
- Bertelsmann India Investments
- Details: Bertelsmann India Investments is the strategic investment arm of Bertelsmann SE & Co. KGaA in India. They focus on investing in digital, education, media, and services sectors.
- Investment Focus Areas: Digital, education, media, services
- Notable Investments: Pepperfry, Lendingkart, Eruditus
- Chiratae Ventures
- Details: Chiratae Ventures, formerly known as IDG Ventures India, is a leading technology venture capital firm. They invest in early and growth-stage companies in India.
- Investment Focus Areas: Technology, healthcare, consumer media, financial services
- Notable Investments: Myntra, CureFit, Lenskart
- Smile Group
- Details: Smile Group is a digital media and e-commerce company that builds and invests in internet businesses. They have a strong presence in emerging markets.
- Investment Focus Areas: Digital media, e-commerce, technology
- Notable Investments: Various digital and e-commerce companies
- Blume Ventures
- Details: Blume Ventures is an early-stage venture fund that backs startups with innovative ideas. They focus on technology-driven businesses in India.
- Investment Focus Areas: Technology, media, healthcare, financial services
- Notable Investments: Unacademy, Dunzo, GreyOrange
What's Next for SquadStack?
SquadStack is poised to capitalize on the burgeoning Indian telesales market, valued at ₹80,000 crore. With the recent ₹140 Cr Series B funding, the company plans to expand into new verticals and increase its base of sales experts. This growth trajectory, coupled with their innovative AI-driven solutions, positions them well for future fundraising opportunities.
However, challenges such as retaining top sales talent and balancing technology with human expertise remain. As they navigate these hurdles, the potential for further investments and even acquisitions to bolster their technological capabilities and market reach is significant.
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