Bootstrapped Ozonetel Communications gets first funding in 14 years

Bengaluru: Ozonetel Communications, a provider of cloud communication services, has raised its first institutional capital in nearly one-and-a-half decades to make the most of the covid-induced surge in demand for remote working solutions.

Stakeboat Capital, a Bengaluru-based private equity firm, invested $5 million in Ozonetel’s Series A funding round — a first in 14 years. The capital will be used to expand operations in the US as well as double headcount to support growth over the next one year.

“We have consciously stayed bootstrapped since inception and focused on creating industry leading tech,” CSN Murthy, founder and chief executive at Ozonetel. “We are now thrilled to have an active and supportive investor with us as we take our tech to more global markets.” The company has a goal of hitting the $100 million annual recurring revenue mark in the next four years, he said.


The Hyderabad- and San Francisco-based company clocked 100% growth in business and doubled its customer base in the last 12 months. It claims to have helped enterprises move 15,000 customer service agents to work-from-home in a span of just two weeks.

Ozonetel offers contact/call centre-as-a-service (CCaaS) to startups and enterprises, facilitating more than 10 million calls per day by 100,000 call centre agents. It has over 10,000 developers using its platform to integrate voice, SMS, WhatsApp and other communication channels into their products.

The company said that while it will hire sales and marketing teams in the US, it will continue to focus on the Southeast Asia and Middle Eastern markets, while also growing its presence in India.

“The pandemic has changed the way enterprises are approaching their call centre ops. With Ozonetel’s disruptive CCaaS and CPaaS platforms, businesses will be able to turn call centres into profit centres,” said Chandrasekar Kandasamy, managing partner at Stakeboat Capital. “This is even more critical in the new remote work environment post-pandemic.”