SquadStack, a San Francisco and New Delhi-based sales acceleration tech startup announced it has raised US$5 million in its Series A funding in a statement dated September 29, 2020. The round of funding was led by tech Chiratae Ventures, previously known as IDG Ventures India.
According to the press release, the round of financing also saw participation from existing investor Blume Ventures.
The fresh capital acquired brings SquadStack’s total capital raise to $12.5 million, according to a report by Entrackr.
SquadStack will utilize the fresh capital to accelerate its product growth and hire fresh talents in the U.S. and India, the statement added.
Founded in 2014, SquadStack’s software-as-a-service SaaS platform that combines data science and artificial intelligence to help businesses scale with better conversions, speed, accuracy, flexibility, and cost savings.
“In today’s competitive business environment, organizations need a sales acceleration platform and analytics throughout the sales cycle,” Chiratae Ventures Executive Director Venkatesh Peddi said. “SquadStack is helping consumer companies across industries solve the principle challenge to turn prospects into customers faster and more profitably.”
“We’ve worked across industries because lead qualification and conversion is a challenge for every company irrespective of their industry or niche,” SquadIQ General Manager Saswata Shankar De said.
“Sales tech innovation that’s happened on the B2B side is just as important in the B2C world but hasn’t quite reached there yet. SquadIQ wants to be the tech platform of choice for sales and fulfilment teams,” he added.