Ozonetel, a Hyderabad and San Francisco-based on-demand cloud communication services startup has raised $5 Mn in Series A funding round.
Stakeboat Capital, a Bengaluru based private equity fund participated in this round of funding.
Ozonetel, which began as a call centre service company in 2010, provides technical infrastructure and software solutions for call centres and omnichannel customer communication.
According to the company, more than 100,000 call centre agents use the platform which handles more than 10 Mn calls per day.
The platform is being used by 10,000 developers to integrate voice, SMS and other communication channels into their products. The startup will use the raised funds to expand US operations.
The Covid-19 pandemic has accelerated the adoption of call center and omnichannel customer communication services everywhere, and Ozonetel is no exception. The startup witnessed a 100% surge in business growth and doubled its customer base over the last 12 months.
Ozonetel and its partners enabled Covid related state helplines in Delhi, Meghalaya, Tamil Nadu, Punjab, Maharashtra and other states. According to the startup, its cloud native approach allowed call centers to be set up within 48 hours.
The startup entered the US market in 2019 and will be using the Series A round funding to grow its sales and marketing team. It also plans on launching an AI-driven Unified Channel Marketing Experience Management (UCXM) platform for digital and voice channels which could be similar to Swiggy’s experiments with AI-powered voicetech.
Some of Ozonetel’s competitors in the space include Bengaluru-based cloud telephony platform Exotel, Delhi NCR based MyOperator and Knowlarity. Exotel raised $35 Mn in a Series C funding round this December while Knowlarity raised $20 Mn during a Series C round in 2016.
According to reports, the global cloud telephony market is expected to grow from $19.1 Bn in 2019 to $53.1 Bn in 2027, growing at a CAGR of 13.25%