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Cloud telephony start-up Exotel acquires voice recognition platform Croak.it

Acquisition to help Exotel strengthen its current offerings

BS Reporter  |  Bengaluru 

In an attempt to strengthen its offerings, Bengaluru-based cloud telephony start-up has acquired social media for an undisclosed amount. was backed by Singapore’s

Started in 2012, is a voice recognition-based social media platform, which will help provide voice recognition-based services in addition to asynchronous voice communication, Exotel’s Chief Executive Officer Shivakumar Ganesan said.


The acquisition, which comes close on heels of Exotel’s mobile application-based expansion plans, will aid to add mobile-integrated cloud telephony to its offerings. Set up in 2011, is a business-to-business (B2B) service that involves virtual telephoning. The company has a cloud-based software as a service (SaaS) model, and also involves data analytics, including tracking number of missed calls. Exotel’s clients include Ola Cabs, Zivame, Uber, RedBus, Groupon and CommonFloor, among others.

Started with a seed investment of Rs 13-14 lakh, had raised around $5,00,000 in angel funding from and around two years ago. The company currently has presence across Karnataka, Tamil Nadu, Andhra Pradesh, Delhi, Maharashtra and Gujarat.

The company today deals with over 60 million calls and has revenues of around $5 million a year. Growing at 10 per cent month-on-month, the company hopes to have a revenue of around $30 million in two years. The company is also looking to expand its presence to tier-II cities.

Ganesan said, is planning to accelerate growth plans, including full-fledged call centres, mobile applications and going international, especially across South Asia. The company will also look to hire more employees as part of its growth plans.

First Published: Wed, February 04 2015. 20:31 IST
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