SquadStack, a SaaS enabled talent marketplace has raised $17.5 million (INR 140 Cr) in its Series B funding round from Bertelsmann India Investments, along with existing investors Chiratae Ventures and Blume Ventures.
The company plans to use the funds to hire top talent to strengthen its team for expansion. It will also use the fresh capital to expand its sales specialist base and further expand into new verticals.
Noida-based SquadStack was founded in 2017 by Apurv Agrawal, Kanika Jain, Vikas Gulati and Rishabh Ladha, It started with the vision of providing access to efficient work for anyone, anywhere. The platform has partners with existing sales talent and housemakers, allowing them to work from anywhere with the help of a smartphone.
“We’re working towards revolutionising the Rs 80,000-crore Indian telesales industry that lacks innovation. Our combined solution of technology and human expertise solves the negative ROI problem for businesses and financially uplifts sales talent across the country. We’re looking to significantly expand our team. We believe that, in the long run, great products and profit are the byproducts of a great team and work culture”, said, Apurv Agrawal, Co-founder and CEO, SquadStack.
The company operates in a hybrid work model in five cities including Noida, Gurgaon, Bengaluru, Goa and Mumbai. It also wants to expand to Chennai, Hyderabad and Pune in the coming months.
The company claims that over 70 lakh telesales agents sell loans, credit cards, insurance, education, health and wellness products and services to 200 million Indians every day.
“We have a strong bullish thesis on ‘future of work’, and SquadStack fits strongly in that as their technology provides ownership and flexibility to the large, diverse and distributed sales talent in the country. We instantly formed a connection with the founding team as we have strong convictions in their data- and product-driven approach to this complex problem. We are excited to partner them in this journey to transform the sales outsourcing landscape”, said, Rohit Sood, Partner, Bertelsmann India Investments.
“SquadStack is solving massive and persistent problems of the sales industry. By productising sales services to manage the challenges of fragmented supply, SquadStack’s tech-driven solution is truly revolutionising the industry”, said, Venkatesh Peddi, Managing Director, Chiratae Ventures.
In September 2020, SquadStack had raised $5 million (about Rs 37 crore) in its Series A funding round from Chiratae Ventures, with participation from Blume Ventures.
About SquadStack
SquadStack is a Saas-Enabled Talent Marketplace for Sales, and their vision is to provide access to work opportunities to anyone, anywhere.
They help consumer businesses that sell high-ticket products and services across various market segments (Brokerage, Lending, Insurance, E-Commerce & Edtech etc.) to improve their sales conversions and funnel efficiency.
They've integrated 3 core layers of innovation to manage the complete inside sales ecosystem for consumer businesses:
Decentralization to access top sales talent
AI-powered tools to manage the complete life cycle of the sales experts
An omnichannel campaign management platform for businesses.
Weekly Startup Funding News Report For 25 October - 29 October 2024 (Latest Updates)
Weekly Funding Roundup - We compile a Weekly Startups Funding News Report summarizing all the startups that secured funding during the week. This report provides a consolidated list of newly funded ventures daywise.
Weekly Funding Roundup - We compile a weekly startups funding news report summarizing all the startups that secured funding during the week. This report provides a consolidated list of these newly funded ventures day-wise, offering a concise overview of the latest developments in the startup funding landscape. Get allIndian statups news at Viestoires.
Weekly Startups Funding News [25 October 2024 - 29 October 2024]
Althion Funding News - Althion has Secured Rs 3.6 crore in Pre-Series A Round Funding
Trisu Funding News - A pre-seed funding round, which was co-led by All In Capital, has secured an undisclosed quantity of investment for the vermeil jewelry brand Trisu.
GameEon Funding News - GameEon, a game development studio, has raised $1 million in its most recent funding round, which was co-led by SucSEED Indovation Fund, ICE VC, IAN, CD EQUIFINANCE, Nexus Global Opportunities Fund, Vivek Goel, Patni Family, Tal64.
Wundrsight Funding News - Wundrsight, a digital therapeutics startup, has secured $400K in its seed round, which was led by Inflection Point Ventures. Social Alpha, in conjunction with other angel investors, has also participated in the round.
Dharaksha Ecosolutions Funding News - Dharaksha Ecosolutions, a biotech-driven R&D start-up, has secured Rs 24.8 crore (approximately $2.95 million) in a Seed funding round sponsored by Avaana Capital.
Omnivore Funding News - Omnivore’s third fund, the Omnivore Agritech and Climate Sustainability Fund, received $5 million in investment from Proparco, a subsidiary of the Agence Française de Développement (AFD) Group.
Futwork Funding News - In its Series A round, which was led by the Michael & Susan Dell Foundation and included Artha Ventures, Simile Capital, and other investors, sales outreach platform Futwork has raised Rs 20.9 crore, about $2.5 million.
Centricity Funding News - In a seed round, Lightspeed and returning investors Burman Family Office and Shantanu Agarwal, among others, led the investment in wealth management startup Centricity, which raised $20 million at a valuation of $125 million.
11 September 2024 - Funding News
Zivy Funding News - Zivy, an AI tool that prioritizes workplace messages and duties, has secured $1.2 million in a pre-seed funding round co-led by Blume Ventures, Paradigm Shift Capital, iSeed, Everywhere Ventures, Indian Silicon Valley, and Marsshot Ventures.
Mitra Funding News - A strategic family office based in Dubai and Bestvantage Investments led the Pre-Series A fundraising round for D2C FMCG firm Mitra, which raised INR 11 Cr ($1.3 Mn).
InMobi Funding News - MARS Growth Capital, a joint venture between MUFG and Liquidity Group, has provided $100 million in debt financing to InMobi, a provider of mobile advertising network software.
Track3D Funding News - Track3D, an AI reality intelligence platform for the construction industry, announced that it had secured $4.3 million in seed funding. The funding was led by Endiya Partners, with participation from Shadow Ventures and Monta Vista Capital.
Flexiloans Funding News - In an equity funding round led by American not-for-profit fund Accion, US asset management firm Nuveen, and Nandan Nilekani-backed venture fund Fundamentum, Mumbai-based digital lending startup Flexiloans has secured Rs 290 crore (approximately $35 million).
10 September 2024 - Funding News
Crackle Technologies Funding News - Crackle Technologies, an adtech startup, has secured $1.7 million (approximately INR 14 crore) in a pre-seed funding round that was jointly headed by We Founder Circle and AC Ventures.
Nestasia Funding News - Nestasia, a lifestyle and home décor brand, secured $8.35 million in a new funding round from Susquehanna Asia VC, Stellaris Venture Partners, and angel investors.
Supersquad Funding News - Supersquad, a startup that specializes in creator monetization, has secured Rs 2.1 crore in a funding round that was spearheaded by WLDD. Nitin Rajput and Jivraj Singh Sachar, angel investors, also contributed to the round.
AppsForBharat Funding News - AppsForBharat, the parent company of the devotional app Sri Mandir, has secured $17.8 million in its Series B funding round, which was led by Fundamentum.
Arnya Real Estate Funding News - Arnya Realestates Fund Advisors, an alternative investment management firm, has successfully closed the first close of its Rs 1,000-crore maiden debt fund, raising Rs 375 crore.
9 September 2024 - Funding News
Transcell Biologics Funding News - Quantiphi and IAN Group, both of Boston, have invested an undisclosed sum in Transcell Biologics, a biotechnology company.
2 September 2024 Monday - Latest Funding News in India
Mintifi Funding News- Mintifi a B2B digital lending startup, is reportedly in discussions to secure $100 million in a new funding round.
Clean Electric Funding News - Clean Electric, an energy storage solutions startup, has secured Rs 48.5 crore (approximately $6 million) in funding from both new and existing investors.
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