SUMMARY
The startup plans to use the fresh funds to scale up onboarding of a senior management team in product and development
Besides, it will also boost the company's expansion plans into the MENA region (Middle East and North Africa), the United States and Canada
Founded in 2019 by Rajsekhar Pattnaik and Venkata Sai Vamsi Penupothu, Runo is a call, contact and customer relationship management mobile app
Hyderabad-based enterprisetech startup Runo has raised $1.5 Mn in a Pre-Series A funding round from Unicorn India Ventures and Callapina Capital.
The startup plans to use the fresh funds to scale up onboarding of a senior management team in product and development. Besides, it will also boost the company’s expansion plans into the MENA region (Middle East and North Africa), the United States and Canada.
Founded in 2019 by Rajsekhar Pattnaik and Venkata Sai Vamsi Penupothu, Runo is a call, contact and customer relationship management mobile app. It integrates with leading CRMs and lead sources to streamline lead management and optimise outbound sales operations.
Anil Joshi, managing partner, Unicorn India Ventures, said, “With a proven success track record of Runo, we decided to invest in the company due to its product that is enabling companies to achieve a higher conversion rate. The increasing use of advanced technologies, cloud-based CRM is gaining traction. In the coming years the penetration of CRM is going to be AI driven and Runo is already working on pioneering solutions on that front.”
“We believe the fresh funds will not only help Runo in its expansion plan but also create a path for new products to come in the market that will target MSMEs,” Joshi added.
“As remote work and distributed workforces have become the norm in the post-pandemic world, there is a clear need for innovative tools and infrastructure to support these changes. Runo’s mobile-first solution is expertly designed to manage distributed workforces and enhance productivity in a variety of call-based operations, from outbound and inbound call centres to sales and hiring initiatives,” said Vinod Jose, co founder and CEO, Callapina Capital.
Pattnaik said that the company is aiming for 7X revenue growth in the next eight quarters.
He added, “Our client roster boasts over 800 businesses, ranging from small businesses to large enterprises like Reliance Nippon, and most of these businesses have come as organic leads. Leveraging organic growth and client referrals, the company’s focus for the next two quarters is clear: doubling down on distribution, go-to-market strategies and as we set our sights on the Middle East and Africa, Runo, is poised to redefine industry standards and serve a global clientele.”
Penupothu said, “The recent capital infusion will further boost Call Management CRM, merging sim-based call tracking with CRM, empowering businesses with deep customer insights. Our focus on AI integration in the product roadmap promises smarter call analytics, predictive customer behaviour insights, and streamlined CRM operations.”
The company claimed 30% growth quarter-on-quarter in the last 8 quarters. It aims to reach $2.5 million in ARR within 12 to 18 months.
In 2022, the company secured $500K in a seed funding round.
This comes against the backdrop of investors losing their interest in the enterprise tech startups as the number of deals plummeted over 46% to 157 during 2023 from 292 in 2022.
In March, enterprise tech startup IDfy secured $27 Mn in a Series E funding round led by growth stage venture capital (VC) fund Elev8, with participation from KB Investment and Tenacity Ventures.
According to Inc42’s Indian Tech Startup Funding Report 2023, enterprise tech startups witnessed a 68% decline in funding to $1.3 Bn in 2023 from $4 Bn in 2022.
