Dubai-based PE Firm Invests in India's Cloud Telephony Platform Knowlarity
Knowlarity says it intends to use the funds raised to expand into other international markets, make acquisitions.
By Aashika Jain •
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Cloud telephony platform, Knowlarity, has raised its Series C round of funding to the tune of $20 million led by Dubai-based private equity firm Delta Partners.
Sequoia India and Mayfield, and a small debt-based investment from Blacksoil and Trifecta Capital also participated in the funding round.
The company founded by two ex-IIT graduates replaces traditional communication hardware system with cloud-based telephony solutions for small and large businesses and calls itself Asia's largest.
Post Delta Partner's investment, the total funds raised by Knowlarity so far touch $41 million making it the most capitalised cloud telephony company in Asia, according to the company.
"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.
Knowlarity says it intends to use the funds raised to expand into other international markets, make acquisitions and invest in advanced technology products for its customers.
"In an age when customers' demand for immediacy and first-class service is at an all-time high, those businesses with most efficient interactions with clients will benefit from unparalleled superiority in the market," said Dominic Halfpenny, Partner at Delta Partners Capital.
The Singapore based company founded in 2009 says it serves more than 15,000 customers across emerging markets and is likely to set its foot into more markets.
Among smaller players that Knowlarity has engulfed include cloud telephony startup Unicom Techlabs and Smartwards Services, a customer engagement platform.
The company Series B funding was of $15 million led by Mayfield Fund and Sequoia Capital in July 2014.
