Cloud telephony firm Knowlarity raises under $20 mn
Cloud telephony firm Knowlarity Communications Pvt. Ltd has raised Rs 133 crore ($19.5 million) in a Series C funding round from Dubai-based private equity firm Delta Partners Capital and other investors.
Sequoia Capital India and Mayfield Fund also participated in the round, the company said in a statement.
This round also included an undisclosed amount of venture debt from Blacksoil Capital and Trifecta Capital.
The latest investment takes the total funds raised by Knowlarity so far to $41 million.
Knowlarity said it will use the funds to expand into international markets, make acquisitions and invest in advanced technology products for its customers.
"The success of the latest funding round is a strong indication of the trust our investors have in our vision as well as in our strong focus on robust unit economics, which has seen us recently achieve EBITDA breakeven," said Ambarish Gupta, Knowlarity's founder and CEO.
The company had previously raised $15 million in a Series B round in July 2014 led by Mayfield Fund and Sequoia Capital.
It has previously also made a couple of acquisitions. In May, Knowlarity acquired Smartwards Services Pvt. Ltd, a customer engagement platform which enables offline retailers to identify, track and engage their existing customers and walk-ins. In 2014, it had bought Unicom Techlabs Pvt. Ltd, a Delhi-based cloud telephony startup.
Knowlarity was founded in 2009 by IIT Kanpur graduates Gupta and Pallav Pandey. It offers cloud communications products such as SuperFax, SuperReceptionist, SuperConference and SuperCaller for enterprises. For larger companies, it provides interactive voice response solutions which can be integrated into their IT systems. The firm has its headquarters in Singapore with offices in Gurgaon, Mumbai and Bangalore. It claims to serve more than 15,000 customers.
Delta Partners invests in growth capital opportunities in the telecommunications, media and digital sector across Africa, Central and Eastern Europe, the Middle East, and Southeast Asia.