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HomeInsightFunding Alert SquadStack raises $17.5 mn in Series B Round

[Funding alert] SquadStack raises $17.5 mn in Series B Round

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. 
Vikas Gulati, Rishabh Ladha, Kanika Jain and Apurv Agrawal, co-founders of SquadStack

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.

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“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.

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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.
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