Stakeboat Capital leads $5M round in cloud communication services firm Ozonetel

Hyderabad and San Francisco-based Ozonetel, a startup that provides cloud communication services to enterprises, has raised $5 million in a Series A funding round led by Stakeboat Capital.

With this round of funding, Ozonetel will expand its presence in the US market and double its headcount in the coming year, the statement said. Moreover, the round will also enable the firm to grow its sales and marketing teams in the US while continuing to focus on SEA and the Middle East, and expanding its presence in India.

“This is a very important juncture for us to scale our business, and we are particularly looking to grow our footprint in the US. We plan to reach $100 million ARR in the next four years,” CSN Murthy, Founder & CEO of Ozonetel, said.

Founded in 2010 by Murthy Chintalapati and Atul Sharma, Ozonetel provides omnichannel call center services to businesses of all sizes – from large enterprises to startups. The firm claims to be one of the first CCaaS (Contact/Call Centre as a Service) firms in India.

It claims to have more than 100,000 call centre agents using Ozonetel’s CCaaS platform ‘CloudAgent’ every day. During the pandemic, Ozonetel claims to have witnessed a 100% increase in its business growth and has doubled its customer base over the last 12 months.

“This investment from Stakeboat Capital validates our vision to provide a unified, omnichannel call/contact centre experience to enterprises,” Murthy adds.

Speaking on the investment, Chandrasekar Kandasamy, Managing Partner, Stakeboat Capital, said: “The pandemic has changed the way enterprises are approaching their call centre operations. With Ozonetel’s disruptive CCaaS and CPaaS platforms, businesses will be able to turn call centres into profit centres. This is even more critical in the new remote work environment post-COVID-19. We are very excited about the possibilities.”

The company will soon be releasing its AI-driven Unified Channel Experience Management (UCXM) platform for voice and digital channels, empowering businesses to design and deliver consistent customer experience across communication channels.

It has clients from various verticals including healthcare, retail, BFSI, education, real estate, and IT and has helped enterprises move 15000 of their agents to work-from-home within a span of 2 weeks.

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