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Exotel has raised $40 million in a Series D funding round led by Steadview Capital, as the cloud telephony company looks to transform itself into a full-stack customer engagement platform and grow its footprint in markets including the Middle East and Southeast Asia. The decade-old company, which remained bootstrapped for most of its life, said the latest fundraising brings the total capital it has raised over the last 15 months to about $100 million. Cofounder and Chief Executive Shivakumar Ganesan said the company is evolving itself from a platform that helps businesses communicate with their customers, to one that helps them engage with their customers through chat, voice, email, video and bots. The firm said it will continue to look for acquisition targets that allow it to build a full-stack experience for customers. The company says its annualised recurring revenue (ARR) has crossed the $50 million mark and is growing at 70%.Best of ETtech delivered to your InboxSUBSCRIBETrusted by Industry LeadersKunal BahlCo-Founder & CEO, SnapdealRitesh AgarwalFounder & CEO, OyoDeepinder GoyalCo-founder & CEO,
