Knowlarity Communications, which operates a cloud-based telephony platform, has today announced that it has minted $20 million in its Series C funding round. This investment was led by Dubai-based private equity firm Delta Partners, with participation from existing backers Sequoia India and Mayfield. Though the amount largely differs, the investment falls in line with previous reports.
This fund-raising round follows in the footsteps of the company’s previous $16 million investment, which it secured over two years ago. This round also includes a small debt-based investment from Blacksoil, Trifecta Capital and raises the total capital raised by the company to well over $42.5 million. The valuation for the current fund-raising round wasn’t disclosed but this makes Knowlarity the most capitalised cloud telephony company in Asia.
Commenting on the investment, Dominic Halfpenny, Partner at Delta Partners Capital said,
Knowlarity has established itself as the leading player in the Consumer to Business Communications industry in India and is now exporting this expertise internationally, thanks to its superior product and relentless focus on customer service.
We are excited to participate in this fascinating and fast-evolving industry and look forward to actively supporting the management team at Knowlarity reach the next level of growth both in India and internationally, in the Middle East, Africa and South-East Asia.
With this fresh influx of capital, Knowlarity is planning to invest in further expansion of its international operations to new and unexplored geographies in the Middle East, Africa and APAC region. A chunk of raised funds will also be attributed towards the upliftment of its existing cloud technology and other products. But the company is also looking to make acquisitions and invest in advanced technology products, to integrate AI and machine learning into their products.
Ambarish Gupta, founder & CEO of Knowlarity also shared his views on the fresh investment:
We are excited about the investment and the quality of investors coming on board. With the domain expertise they bring on-board, we are confident that we will be able to provide even more innovative Consumer to Business Communication solutions to businesses around the world and establish ourselves as global leaders in the segment.
Headquartered in Singapore, Knowlarity Communication was founded in 2009 by a duo of founders, namely Pallav Pandey and Ambarish Gupta. The company has offices in New Delhi, Gurgaon, Mumbai and five other locations in India. Over the past seven years, it has grown the telephony business to power more than 6,500 companies across 60+ countries. The company now has over 300 employees and 1000 partners including the likes of Amazon, Uber, Practo, Ola, Zomato, Swiggy, among others.
Earlier this year, the company acquired Smartwards, a Gurgaon-based customer engagement platform that simplifies loyalty programs for local businesses and their customers. The co-founder of the acquired startup are now leading the India operations of Knowlarity. Also, the company has integrated its super-powerful receptionist app with products from Freshdesk and Zoho to further empower and provide better insights to small-scale businesses.