Exotel announced a $40 million financing round on Tuesday, just three months after securing a $35 million round, as the Bangalore-based startup demonstrates growth for its full-stack customer engagement platform in emerging markets.
Steadview Capital led the startup’s Series D round. Exotel, which has received funding from Blume Ventures and IIFL Asset Management, has raised approximately $100 million in debt and equity rounds in the last year.
Exotel provides its clients with a full-stack platform that includes a contact center, APIs, voice and chatbots, and allows them to engage with their customers via touchpoints such as web chat, co-browsing, and videos.
Indian ride-hailing giant Ola uses Exotel’s platform to send text messages to its customers. Swiggy, the food delivery company, uses the startup to mask phone numbers when the delivery partner calls the customer. Exotel is used by relationship managers at HDFC Bank, a prominent Indian bank, to engage with customers with a savings account.
“involves bringing together disconnected channels, bots, applications with siloed customer data across teams. For the first time, we are enabling this over the cloud with our full-stack platform.”Shivakumar Ganesan, co-founder and chief executive of Exotel