Ozonetel targets $ 100 million in annual recurring revenue in four years – The New Indian Express
Express news service
BENGALURU: On-demand cloud communications service provider Ozonetel aims to reach ARR $ 100 million (annual recurring revenue) over the next four years. The company also aims to multiply its activity by 5 during the coming year.
The company, which recently raised $ 5 million in Series A from Stakeboat Capital, a private equity fund, said it would use the funding to grow its sales and marketing teams in the United States, while also continuing to focus on the South East Asian and Middle Eastern markets, in addition to expanding its presence in India.
“Currently we are a $ 10 million brand and with this injection of capital we expect to reach ARR $ 100 million over the next four years,” Chaitanya Chokkareddy, chief innovation officer at TNIE, told TNIE. Ozonetel.
It’s been 11 years since US-headquartered Ozoneel pioneer its cloud telephony solutions in India and leading brands in banking, brokerage, fintech, e-commerce and retail. education use its call center solutions for their customer service and sales.
“We want these companies to use our AI-powered omnichannel capabilities to help transform the role of contact centers themselves. We seek to automate customer communications at every stage of the customer journey and use AI-powered insights to transform the way businesses use their contact center data, ”said Chokkareddy.
The company has more than 1,000 business customers in the United States, India and the United Arab Emirates, and its platform supports more than 100,000 live agents and has handled more than 3 billion calls.
According to the Transparency Market Research report, the global cloud telephony services market is expected to grow at a rate of 17.2% during the forecast period of 2018 to 2026, to reach a valuation of 41,768.3 million. dollars by 2026.
“From February 2020 to June 2021, we saw 100% growth in activity. Previously this growth was driven by new-age entrepreneurial companies, however, as of the start of this year, we have seen companies move their legacy systems to the cloud, ”he said.
For Ozonetel, over 60% of revenue comes from major verticals including healthcare, education, real estate, IT / ITES, e-commerce, BFSI, and retail.
“We are in the process of expanding our workforce in India and the United States,” he said. With 160 employees currently, Ozonetel plans to add 175 employees by 2022.