Exotel raises $35 mn to expand its cloud customer engagement platform

The customer engagement company is looking to hit an annual recurring revenue of $200 mn over next 5 years and plans to increase its headcount by 200 over next 12 months

Exotel, a leading customer engagement company, has raised $35 million as a part of its series C funding from IIFL AMC, Sistema Asia Fund, CX Partners, Singularity Growth Opportunities Fund, and Arun Sarin, ex-CEO of Vodafone who has also joined the round as an angel investor and a mentor. Existing investors Blume Ventures and A91 Partners also participated in this round. The Bengaluru-based investment bank, IndigoEdge, was the exclusive banker for the transaction.

This fresh infusion of funds will be used primarily to boost the product offerings of the company. Exotel and tech firm Ameyo recently announced their merger. The