Ozonetel raises Series A funding of $5 mn from Bengaluru-based PE Stakeboat Capital

FPJ Web DeskUpdated: Wednesday, October 06, 2021, 12:28 PM IST
article-image
Ozonetel will use the funds to expand US operations and double headcount in the coming year. | Photo credits: pexels.com

Ozonetel, on-demand cloud communication services, has raised $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 aims to utilize this infusion of capital to expand its presence in the US market. It entered the US market in 2019. 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.

CSN Murthy, Founder and CEO of Ozonetel, said, “We plan to reach $100 million ARR in the next 4 years.”

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.”

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.”

(To receive our E-paper on whatsapp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

Too much borrowing by real estate developers puts China's economy at risk

Too much borrowing by real estate developers puts China's economy at risk

Political parties can encash electoral bonds at 29 SBI branches between Dec 5 and 12

Political parties can encash electoral bonds at 29 SBI branches between Dec 5 and 12

How InvITs generate regular cash flow for you by investing in the future

How InvITs generate regular cash flow for you by investing in the future

ICICI bank held its Analyst Day in Mumbai

ICICI bank held its Analyst Day in Mumbai

ASSOCHAM’s 6th National Summit on Insolvency & Bankruptcy Code and Valuation held in Mumbai

ASSOCHAM’s 6th National Summit on Insolvency & Bankruptcy Code and Valuation held in Mumbai