Enterprise communication platform CometChat has raised Rs 40 crore in a venture debt round led by Utah-based Zions Venture Fund.
Funds raised will be used for scaling up its product offerings, strengthening its presence in Europe and expanding data centres strongly in the APAC region including India, the company said. “The aim is to raise capital for an extended runway of 5 years as we put our growth plans in the fast lane,” CometChat Co-Founder and CEO Anuj Garg said. CometChat has raised over Rs 145 crore to date and is backed by investors such as Signal Peak Ventures, Matchstick Ventures, Range Ventures and Unbound Ventures.
“We will continue to invest in hiring the best talent and to create more localisation options. We also continue to invest in our go to market functions in terms of building customer success, customer key account customer management as well as our sales and business development processes and people in India,” Garg said. He said the plans for India are though, at a very nascent stage, the company has already seen a significant adoption from top enterprises and technology media companies in India who are running pilots or going online with CometChat.