Ozonetel Raises Series A Funding Of USD 5 Million From Stakeboat Capital… Looks to expand its presence in the US market
Hyderabad, India / San Francisco, U.S, 6th October 2021: Ozonetel, India’s leading provider of on-demand cloud communication services, has raised USD 5 million in Series A funding from Stakeboat Capital, a private equity fund based out of Bangalore. The funds will be used to expand US operations and double headcount in the coming year.
Ozonetel introduced CCaaS (Contact/Call Centre as a Service) in the India market in 2010 and since then has been providing omni-channel call center services to businesses of all sizes – from large enterprises to startups. Everyday more than 100,000 call center agents use Ozonetel’s CCaaS platform ‘CloudAgent’ making Ozonetel one of the largest CCaaS players. The company’s cloud telephony platform currently handles more than 10 million calls per day. More than 10,000 developers use Ozonetel’s CPaaS (Communications Platform-As-A-Service) platform to integrate voice, SMS, WhatsApp and other communication channels into their products.
COVID has accelerated CCaaS adoption the world over. During the pandemic, Ozonetel witnessed a 100% surge in its business growth and has doubled its customer base over the last 12 months. The company has added clients from various verticals including healthcare,
retail, BFSI, education, real estate, and IT. The company has helped enterprises move 15000 of their agents to work-from-home within a span of 2 weeks.
Ozonetel aims to utilize this infusion of capital to expand its presence in the US market. Ozonetel entered the US market in 2019 and is making rapid strides having onboarded channel partners and customers. This Series A round will enable the company to grow its sales and marketing teams in the US, while continuing to focus on SEA and Middle East and expanding its presence in India. The company will soon be releasing its AI-driven Unified Channel Experience Management (UCXM) platform for voice and digital channels, empowering businesses to design and deliver consistent customer experience across communication channels.
Commenting on this funding, CSN Murthy, Founder and CEO of Ozonetel, said, “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 USD 100 million ARR in the next 4 years. This investment from Stakeboat Capital validates our vision to provide a unified, omnichannel call/contact center experience to enterprises. 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.”
Highlighting the company’s unique proposition, Chaitanya Chokkareddy, Chief Innovation Officer, Ozonetel, said, “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 center services easily. We can bring up a new call center or migrate a legacy on-premise call center solution within hours. In the new normal, when call center agents are working from home, our tried and tested unique approach to CCaaS has proven that enterprises can easily adapt CCaaS and take advantage of cloud technology for their agents and managers without any compromise on security and data privacy. Large enterprises like banks have also placed their trust in Ozonetel’s CCaaS.”
Speaking on the occasion, Chandrasekar Kandasamy, Managing Partner, Stakeboat Capital said, “The pandemic has changed the way enterprises are approaching their call center operations. With Ozonetel’s disruptive CCaaS and CPaaS platforms, businesses will be able to turn call centers into profit centers. This is even more critical in the new remote work environment post COVID. We are very excited about the possibilities.”