[Funding alert] SquadStack raises $5M in Series A led by Chiratae Ventures
San Francisco and New Delhi-based sales acceleration startup SquadStack has raised $5 million in a Series A funding round led by Chiratae Ventures, with participation from existing investor Blume Ventures.
The startup plans to utilise this fresh round of funding to accelerate product growth and hire product, engineering, and data science talent in the US & India.
According to SquadStack, it helps consumer businesses that sell high-ticket products and services across industries such as real estate, financial services, education, healthcare, and retail improve their sales conversions and funnel efficiency.
Speaking about the funding, Apurv Agrawal, CEO of SquadStack, said,
“We’re grateful to everyone who believed in our mission to create the ultimate sales acceleration and funnel efficiency stack for consumer focussed businesses around the world. To our customer partners, we promise that our vision to make your lives easier by providing the best quality products will never change.”
SquadStack offers its services both for India and the US markets and its products offerings are tailored to the region’s requirements.
In India, the startup has got clients such as Zomato, Walmart Group, Times Group, Delhivery, Nestaway, Upstox, ZestMoney, and the Tata Group. In 2018, it launched its Sales Acceleration platform, SquadVoice (now SquadIQ) in the Indian market, which the startup claimed helped companies drive a 5-10x improvement in their funnel efficiency metrics using a combination of data science, cloud infrastructure, and a distributed workforce.
In 2019, SquadStack launched a similar offering in the US real estate market, which helped broker teams boost revenue, cut costs, and improve agent training and retention by applying its core principles of data-driven sales acceleration.
SquadStack said it is expecting a 10x growth in their customer base over the next two years.
“In today’s competitive business environment, organisations need a sales acceleration platform and analytics throughout the sales cycle. SquadStack is helping consumer companies across industries solve the principle challenge to turn prospects into customers faster and more profitably,” said Venkatesh Peddi, Executive Director at Chiratae Ventures.
Edited by Megha Reddy