Delhi-based cloud telephony startup MyOperator has acquired cloud communications startup Ziffy in a bid to expand its network in tier-2 and tier-3 cities.
The startup expects to consolidate its position in the small and medium businesses segment, said a company statement. With this acquisition, MyOperator aims to become the largest cloud communication solution provider for Indian SMBs with access to over 3,500 clients in the smaller cities.
The startup, however, did not disclose the transaction details.
Headquartered in Lucknow, Ziffy is a cloud-based application that offers features ranging from IVR and automated welcome messages to two-way SMS and call recording. The startup was founded in 2009 by Tushar Bhargava.
Speaking to Inc42 on the acquisition, CEO and Co-Founder of MyOperator, Ankit Jain said: “This acquisition will strengthen our position among the SMBs in the tier-2 and tier-3 cities. With this acquisition, our revenue growth estimate for this financial year has also been increased to 70% from the previous projection of 50%.” The startup clocked revenue of around $3 Mn in FY20-21, he added.
Jain also said that Ziffy will be merged with MyOperator and all the customers also will be shifted to the NCR-based platform.
Founded by Ankit Jain, MyOperator was launched in 2015. The startup offers solutions such as virtual and toll-free numbers, mobile CRM, and voice analytics services to small and medium enterprises in India.
Its clientele includes Lenskart, Razorpay, ITC, Apollo among others. In 2015, the startup received attention after it bagged the contract for handling the backend operations of Prime Minister Narendra Modi’s radio talk show, Mann ki Baat.
As per a report by Zinnov, a market research firm for digitalisation of Indian SMBs, the country has nearly 8 Mn to 10 Mn small businesses that are rapidly adopting digital productivity enhancement tools to scale their business performance.
The estimated market for business phone systems for SMBs in India is approximately $5 Bn with significant contributions from tier-2 and tier-3 cities.
The growth momentum in the sector is set to continue. As per a recent IDC report, the public cloud services market in the country is expected to hit $9.5 Bn by 2025 and is growing at 21.5% CAGR during 2020-25.
MyOperator competes with Knowlarity, Exotel and Waybeo in the cloud telephony domain.
On Wednesday, Bengaluru-based cloud telephony startup Exotel announced its Series C round of $35 Mn from IIFL AMC, Sistema Asia Fund, CX Partners, Singularity Growth Opportunities Fund and other investors.