Exotel has raised $40 million in a Series D funding round led by Steadview Capital. The company wants to convert itself into a customer engagement platform and grow its footprint in markets like the Middle East and Southeast Asia.

Co-founder and CEO Shivakumar Ganesan said that the company is developing a platform that helps businesses communicate with their customers to engage with them via chat, voice, email, video and bots. In the last 12 months, we gained over 1,300 customers, including ITC Salaam in Saudi Arabia, Bajaj Allianz, City Mall, Krazybee, Shadowfax and Tata Consultancy Services. The company claims that its annualised recurring revenue (ARR) has crossed the $50 million mark and is increasing at 70 per cent.

“Customer engagement is necessary to businesses in India, APAC and EMEA, especially in the ongoing Covid-19 pandemic. Exotel has expanded rapidly to come as the clear category leader for solving such problems, allowing its customers to communicate easily with consumers across engagement channels,” said Ravi Mehta, founder of Steadview Capital.