Ozonetel, a cloud communication service provider, has raised $5 million (Rs 37 crore) in a Series A funding round from Stakeboat Capital.
The company said funds will be used to expand US operations and double headcount in the coming year. Ozonetel entered the US market in 2019. It will also grow its sales and marketing teams in the US while continuing to focus on southeast Asia and the Middle East and expanding its presence in India.
“This is a very important juncture for us to scale our business, and we are particularly looking to grow our footprint in the US. We plan to reach $100 million annual revenue rate in the next 4 years,” CSN Murthy, founder and CEO of Ozonetel, said.
“We have consciously stayed bootstrapped since inception and focused on creating industry-leading tech. We are now thrilled to have an active and supportive investor with us as we take our tech to more global markets,” he added
The company said it witnessed a 100% surge in its business growth and has doubled its customer base over the last 12 months. It has added clients from verticals including healthcare, retail, BFSI, education, real estate, and IT.
“Ozonetel is a cloud-native company. We have built the complete cloud communication stack, and our API-first products allow businesses to configure their call centre services easily. We can bring up a new call centre or migrate a legacy on-premise call centre solution within hours,” Chaitanya Chokkareddy, chief innovation officer of Ozonetel, said.
Ozonetel competes with global players like Knowlarity, Twilio, Sinch, Fvonage, Five9, Exotel, Route Mobile and Tanla Platform.
Recently, Exotel raised $35 million as a part of its Series C funding from IIFL AMC, Sistema, CX Partners, and Singularity Growth Opportunities Fund.
Earlier in June, Exotel and call centre software provider Ameyo announced their merger. The combined entity will focus on building a full-stack customer engagement platform in emerging markets.
