Cloud Telephony Platform Exotel Secures $35 Million in Series C

Cloud telephony pioneer Exotel has announced that it has raised $35 million in Series C round. The round saw the participation of IIFL AMC, Sistema Asia Fund, CX Partners, Singularity Growth Opportunities Fund, and Arun Sarin. Existing investors Blume Ventures and A91 Partners also participated in the round.

"CPaaS is a $6Bn market in India and SEA and one of the fastest growing technology areas in the post-covid world. Exotel has quietly emerged as the CPaaS platform of choice in India through their market-best reliability and comprehensive product suite. We are delighted to partner with them and expect them to become a globally relevant platform in the years to come," said Sumit Jain, Senior Partner of Sistema Asia Fund.

Exotel is currently growing at 70% YoY and is at ARR of $45 million. The company plans to use the funding to boost its product offerings. It is looking to hit an ARR of $200 million over the next 5 years and raise the headcount in the company to over 200 in the next 12 months. Read More Blogs