Private Equity Fund Investments
Cloud telephony co Exotel closes Series C round with $35-M
Bangalore-based cloud telephony company Exotel has raised USD 35 million in its Series C funding round, led by Sistema, CX Partners and existing investor A91 Partners. IIFL, Synergy Capital, and existing investor Blume Ventures also participated in the round, alongside former Vodafone CEO Arun Sarin, who has come on board as a mentor. The 10-year-old company, which is looking to become a full-stack customer engagement service provider for businesses in emerging economies, would use the capital to fund its acquisition of contact centre software provider Ameyo, announced in June last year, and invest in growth.
From the Venture Intelligence PE-VC Deal Database: In Dec-2020, Exotel had raised INR 40 Cr from A91 - over 8 years after the INR 2.35 Cr it had raised from Blume in 2012. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.) In Jul-21, it had reportedly raised INR 45 crore in additional funding from A91 and Blume with participation of Flipkart co-founder Binny Bansal, Reliance Jio President Vikas Choudhury, MakeMyTrip CEO Deep Kalra and ICICI Labs head Rohan Angrish.
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