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Ozonetel mops up USD 5 mn in Series A round

Ozonetel mops up USD 5 mn in Series A round

Funding News

Ozonetel mops up USD 5 mn in Series A round

On-demand cloud communication services provider Ozonetel on Wednesday said it has raised USD 5 million (about Rs 37.5 crore) from Bengaluru-based private equity fund Stakeboat Capital. The funds will be used to expand US operations and double headcount in the coming year, according to an official statement from the 11-year-old company that started out with a contact/call centre-as-a-service (CCaaS) offering.



“This is an important juncture for us to scale our business, and we are particularly looking to grow our footprint in the US. We plan to reach USD 100 million ARR (annual recurring revenue) in the next four years,” its founder and Chief Executive C S N Murthy said. COVID-19 has accelerated CCaaS adoption the world over. During the pandemic, Ozonetel witnessed a 100 per cent surge in its business growth and has doubled its customer base over the past 12 months.


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The pandemic has accelerated CCaaS adoption the world over and the company witnessed a 100 per cent surge in its business growth and doubled its customer base over the past 12 months. It has 15,000 agents working from home serving various sectors. Stakeboat Managing Partner Chandrasekar Kandasamy said the fund is excited about the possibilities, as the pandemic has changed the way enterprises are approaching their call centre operations.


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