[Funding alert] CpaaS company CometChat raises $10M in Series A round
The round was led by US-based Signal Peak Ventures along with participation from existing investors including Matchstick Ventures, Range Ventures, and Unbound Ventures.
Tuesday December 07, 2021,
2 min Read
Denver and Mumbai-based CpaaS companyon Tuesday announced that it has raised $10 million in a Series A funding.
The oversubscribed round, led by Signal Peak Ventures (SPV), also saw participation from existing investors including Matchstick Ventures, Range Ventures, Unbound VC among others.
Anuj Garg, Co-founder CEO, CometChat, said,
“We are thrilled to add SPV as an investor and partner as we look to scale our platform offering and expand our growing customer base. This is an important milestone that we wouldn’t have reached without our incredible team. We look forward to further investing in our customers’ success.”
In a media statement, CometChat said the funding will further enable growth acceleration along with platform enhancements. The company has plans to invest in expanding its global market share by investing in employee growth, accelerating Go to Market strategies, scaling platform infrastructure and platform features.
Started in 2010 by siblings Anuj and Anant Garg, CometChat has built a communications platform for enterprises which provides them with plug n play text, chat, video and voice communications solutions to be integrated in their websites and apps. The India and the US headquarters company works with global names like HeySummit, Swedbank and Endeavour.
“When I first met Anuj and Anant a few years ago I immediately knew that they were people that I wanted to work with. I was impressed by their extremely complementary skill sets and by the unique way they were pursuing a developer-first approach to chat. They have since been able to build out a world-class team and I couldn’t be happier to be a part of the CometChat journey,” added McKay Dunn, Partner, Signal Peak Ventures.
In addition to the Series A fundraising, CometChat claims to have been investing in expansion and preparing for growth with initiatives including the addition of former SendGrid marketing executive, Dan Mitzner, as the company’s Chief Marketing Officer. Along with recent investment in marketing, CometChat, trusted by over 50,000 developers worldwide, has enhanced the stability and scalability of the platform, ensuring customers can confidently deliver a rich user experience.
The company was selected for TechStars Boulder Accelerator Programme where it received funding. In 2020, it had also raised $1.6 million in pre-Series A round.
Edited by Anju Narayanan