PE-VC Fund Investments
Tenacity Ventures buys stake in cloud telephony co. Exotel from Sistema fund, others
Tenacity Ventures has invested in Bengaluru-based customer engagement platform Exotel via a secondary purchase of shares at INR 45,000 apiece primarily from ESOP holders and private equity firm Sistema Asia Capital at about 40% lower valuation than in the previous round.Founded in 2011 by Shivakumar Ganesan, Ishwar Sridharan, Siddharth Ramesh and Vijay Sharma, Exotel helps enterprises enhance the quality of their customer interactions. It deploys its AI-based voice and chat agents, which can handle queries from customers.
Between Jul-12 and Jan-22, Exotel had raised $87-M from A91 Partners, Alteria Capital, Sistema Asia Fund, IIFL VC, Stride Ventures, Blume Ventures, CX Partners, 360 ONE and others.
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