Exotel announced a fresh infusion of Rs 45 crores from A91 Partners, Blume Ventures, and a panel of angel investors.
The angel investors include Binny Bansal (Co-founder of Flipkart), Vikas Choudhury (President of Reliance Jio), Deep Kalra (CEO, MakeMyTrip), Rohan Angrish (Head, ICICI Labs engineering) among others. Additionally, Anand Chandrasekaran, former Facebook and Snapdeal product leader, is joining Exotel as an advisor and mentor.
Exotel is all set to celebrate its 10th anniversary of operations this year. During this time, it has become the largest and fastest-growing cloud telephony platform in Asia. With the fresh infusion of funds, Exotel eyes accelerated growth. Ishwar Sridharan, COO, and co-founder of Exotel mentioned, “We are at a USD 25 million top-line run rate and we continue to grow profitably. We are seeing significant adoption in BFSI, Auto, and FMCG industries. I’m looking forward to an exciting growth phase in the year ahead. We are building the best products in communications tech, and we are looking to hire 200+ people in Product, Engineering, and customer-facing roles.”
The pandemic is continuing to impact the way business is conducted. The shift to cloud-based communication is happening at a more rapid pace now.
Shivakumar Ganesan, CEO and co-founder of Exotel commented, “I am stoked about bringing on board angel investors who have a wealth of experience in building long-lasting institutions and who have a keen sense of how to add value to customers. My leadership team and I look forward to working with them to build the future of customer communication tech in emerging markets.”
Kathik Reddy, managing partner, Blume ventures also said, “Watching Exotel grow 150x from when we joined the journey 8 years ago has been a pleasure. And we do believe the best is yet to come and want to double down on our commitment for the 10x+ journey from here.”
Just over the last few months, Exotel has powered over 150 helplines and nonprofits that were working on providing on-ground support to the affected during the pandemic. It currently also powers customer communication for 4000+ organizations including Flipkart, Ola, Swiggy, Zerodha, etc. On average, Exotel powers 10 million conversations every day. The company is currently profitable at a USD 25 million top-line run rate.
Gautam Mago, general partner, A91, said, “We are delighted to deepen our partnership with Exotel and support the company’s growth going forward.”
