Total amount raised
$7.1 Million
Latest funding date
9/1/2020
Location
SquadStack has successfully raised funds through 8 different funding rounds, with the latest being a Non-equity Assistance round. The company is backed by 22 investors, including notable names like JioGenNext and Chiratae Ventures.
Keep reading to explore the intricacies of SquadStack's fundraising journey and the investors backing this innovative platform.
What Is SquadStack?
SquadStack, based in Noida, Uttar Pradesh, India, specializes in AI-driven voice agents and customer experience solutions. The company operates in various industries, including AI, customer service, enterprise software, and more. With a workforce of 251-500 employees, SquadStack aims to maximize conversions and revenue for consumer brands through innovative AI and human expertise.
Founded to revolutionize contact centers, SquadStack has achieved significant milestones, such as being the first to pass the Turing Test for contact centers. Their product offerings include the In-App Voice AI Assistant and other AI solutions tailored for diverse industries and use cases.
How Much Funding Has SquadStack Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: February 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop initial product offerings.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: May 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the product and expand the team.
- Seed Round
- Amount Raised: USD 2,100,000
- Date: April 2017
- Lead Investors: Blume Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product features.
- Series A Round
- Amount Raised: Not publicly disclosed
- Date: February 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve technology infrastructure.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: January 2019
- Lead Investors: Smile Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To explore new market opportunities and enhance service offerings.
- Series A Round
- Amount Raised: USD 5,000,000
- Date: September 2020
- Lead Investors: Chiratae Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and invest in advanced AI technologies.
- Series B Round
- Amount Raised: INR 1,400,000,000
- Date: July 2022
- Lead Investors: Bertelsmann India Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To create more remote jobs, revolutionize the telesales industry, and expand into new verticals.
- Non-Equity Assistance Round
- Amount Raised: Not publicly disclosed
- Date: September 2023
- Lead Investors: JioGenNext
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To gain strategic support and resources for further growth.
Total Amount Raised: USD 7,100,000
Current Valuation: Not publicly disclosed
Key Investors
- JioGenNext
- Details: JioGenNext is a startup accelerator backed by Reliance Industries. It focuses on nurturing and scaling innovative startups in India.
- Investment Focus Areas: Technology, AI, Consumer Services
- Notable Investments: SquadStack.ai
- Chiratae Ventures
- Details: Chiratae Ventures, formerly known as IDG Ventures India, is a leading venture capital firm in India. It has a strong track record of investing in early and growth-stage companies.
- Investment Focus Areas: Technology, Healthcare, Consumer Services
- Notable Investments: SquadStack.ai
- Bertelsmann India Investments
- Details: Bertelsmann India Investments is the strategic investment arm of Bertelsmann SE & Co. KGaA in India. It focuses on investing in innovative companies in the digital, education, media, and services sectors.
- Investment Focus Areas: Digital, Education, Media, Services
- Notable Investments: SquadStack.ai
- Blume Ventures
- Details: Blume Ventures is an early-stage venture fund that backs startups with innovative ideas and strong growth potential. It is one of India's most active and respected venture capital firms.
- Investment Focus Areas: Technology, Healthcare, Consumer Services
- Notable Investments: SquadStack.ai
- Smile Group
- Details: Smile Group is a digital media and technology company that invests in and incubates internet businesses. It has a strong presence in the Indian and Southeast Asian markets.
- Investment Focus Areas: Digital Media, Technology, E-commerce
- Notable Investments: Not publicly disclosed
What's Next for SquadStack?
SquadStack is poised to capitalize on the burgeoning ₹80,000 crore Indian telesales industry. With fresh funding, the company plans to expand into new verticals, hire top talent, and increase its base of sales experts. This strategic growth is expected to attract further investments, enabling SquadStack to continue its innovative approach in revolutionizing the telesales industry.
However, challenges such as retaining sales talent and balancing technology with human expertise remain. Addressing these issues will be crucial for SquadStack as it navigates its ambitious growth trajectory and aims to maintain its competitive edge in the market.
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