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Business News/ Companies / Start-ups/  Ozonetel raises Series A funding of $5 million from Stakeboat Capital
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Ozonetel raises Series A funding of $5 million from Stakeboat Capital

The funds will be used to expand US operations and double headcount in the coming year

Ozonetel introduced CCaaS (Contact/Call Centre as a Service) in the India market in 2010 and since has been providing omni-channel call center solutions to businesses of all sizes – from large enterprises to startups. iStockphotoPremium
Ozonetel introduced CCaaS (Contact/Call Centre as a Service) in the India market in 2010 and since has been providing omni-channel call center solutions to businesses of all sizes – from large enterprises to startups. iStockphoto

MUMBAI : Ozonetel, a provider of on-demand cloud communication/telephony solutions, on Wednesday said that it has raised $5 million in series A funding from Stakeboat Capital, a private equity fund based out of Bangalore. The funds will be used to expand U.S operations and double headcount in the coming year, the company said in a statement.

Ozonetel introduced CCaaS (Contact/Call Centre as a Service) in the India market in 2010 and since has been providing omni-channel call center solutions to businesses of all sizes – from large enterprises to startups. More than 100,000 call center agents use Ozonetel’s CCaaS platform, CloudAgent, on a daily basis making Ozonetel one of the largest CCaaS players. The company’s cloud telephony platform currently handles more than 10 million calls per day. More than 10,000 developers use Ozonetel’s CPaaS (Communications Platform-As-A-Service) platform to integrate voice, SMS, WhatsApp and other communication channels into their products.

Ozonetel aims to utilize this infusion of capital to expand its presence in the U.S market. Ozonetel entered the US market in 2019 and is making rapid strides having onboarded channel partners and customers. The company plans to reach $100 million ARR (annual revenue run-rate) in the next four years. This Series A round will enable the company to grow its sales and marketing teams in the U.S in the coming year. Ozonetel will continue to focus on the MESEA region ( Middle East and South East Asia) and expand its presence in India. The company is working on developing CloudAgent Digital (CAD) to empower call centers. Through this, Ozonetel can now provide a Conversational AI led Unified Customer Experience across omnichannel communication.

CSN Murthy, Founder and CEO of Ozonetel, said, “COVID has accelerated CCaaS adoption the world over. During the pandemic, many large enterprises have trusted our platform to on-board massive number of call center agents within a short span of time. This is a very important juncture for us to scale our business, and we are particularly looking to grow our footprint in the US. This investment from Stakeboat Capital validates our vision to provide a unified, omnichannel call/contact center experience to enterprises. We have consciously stayed bootstrapped since inception and focused on creating industry-leading tech. We are now thrilled to have an active and supportive investor with us as we take our tech to more global markets."

During the COVID outbreak, the company claims to have witnessed a 100% surge in its business growth and has doubled its customer base over the last 12 months. Ozonetel has added clients from various verticals including healthcare, retail, BFSI, education, real estate, and IT; many of them being large enterprises requiring to onboard up to 15,000 call center agents within 1 or 2 weeks, the company said.

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Published: 06 Oct 2021, 07:24 PM IST
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