Ameyo, the contact center software provider has announced a $5 million round of venture capital funding. The entire investment was put in by the Bangalore based private equity firm, Forum Synergies (India) PE Fund Managers through IKMF-I, the fund managed by them. In this transaction, Mumbai-based boutique investment bank Zanskar Advisors was the exclusive financial advisor to Drishti.
Ameyo is one of the foremost players in omnichannel customer experience (CX) and contact center solutions. It has over 1,600 customers in 40 countries who orchestrate more than 1 billion interactions each day. Commenting on the round, Mr. Bishal Kumar, CEO of Drishti (creator of Ameyo.com and TexoCC.com), said “Contact Centers are undergoing rapid transformation both in terms of impact to the core business and movement to cloud. This represents a $3 billion global opportunity.” He added that Telesales and Inside Sales teams are adapting Sales Acceleration Technology which is a new $12 billion opportunity and growing very fast.
This fresh funding would catalyse Ameyo’s larger participation in both of these market opportunities. The funds will be used to expand into the US market, expand offerings in “Cloud Contact Center” and “Sales Acceleration Technology” space, and platform investments into stronger ISV relations in the Enterprise Contact Center Software market. This move is part of company’s vision to take Ameyo global after its success in Asia, Middle East and Africa Enterprise contact center markets.
Drishti has been bootstrapped by Bishal Kumar, Sachin Bhatia and Nayan Jain (Classmates from IIT Guwahati) in 2003. Today it’s about 300 people strong. With Ameyo, Drishti serves over 1500 customers in over 40 countries including names like Ola Cabs, Jabong, Bankbazaar, Tiny Owl, Mphasis, WNS, Jordan Ahli Bank, Chase Bank etc. TexoCC, Drishti’s SAAS offering, was launched in Sep 2014 targeting mid sized Contact Centers and Inside Sales Teams. Recent wins include Subway, Urban Clap, Grofers, Peppertap, Aspire IT.
Mr. Samir Inamdar, co-founder MD & CEO of Forum Synergies, will join the Board of Drishti. Mr. Inamdar said “the ongoing transformation of Contact Centers, their increasing criticality to business and the exploding Cloud opportunity, position Ameyo perfectly for explosive global growth. We are confident that the complementary skill-sets of the founder team of Bishal, Sachin and Nayan give Drishti the edge in creating significant value for our investors."
Ameyo is an example of a B2B company that has been growing silently but with the onset of more capital availability, the company has a chance to enter new segments with more vigour. There are a lot of enterprise companies being built from India that are relevant globally and these are the new set of companies that are moving the nation quickly from services to a products mindset.