Knowlarity Secures $16 Million in Series B Funding.
India-based Knowlarity Private Limited, a cloud telephony firm has recently announced that they have managed to secured over $16 million in Series B from Sequia Capital India and Mayfield India, which shall be utilized to further improve upon its technology, fund international expansion plans and consolidate its position through acquisitions.
As mentioned before a percentage of this investment shall go towards acquiring competitors. According to Found and CEO of Knowlarity, Ambarish Gupta, the company is already in the middle of discussion with over two to three companies based in Indai and abroad, and they are expecting to close this deal during the coming six months. This is part of Knowlarity’s efforts to further expand its presence in emerging markets and they are aiming for Rs.75 crore revenue nearing the end of his fiscal year. During January 2012 Knowlarity had raised over Rs.34 crore from Sequoia Capital. The Gurgaon-based company also gained funding from Emergic Venture Capital in the past.
During the previous year of July, Knowlarity changed its course to base itself in Singapore, and is reportedly looking to expand its presence in Southeast Asia, West Asia, and Latin America. Gupta commented that they are searching for companies in the $1-2 million revenue range and any acquisition shall be cash and equity deals. Earlier during the year, Knowlarity acquired cloud telephone startup Unicom Techlabs for an undisclosed amount.
Knowlarity has claimed that over 6500 small businesses use its service at present and that 500 new users are added every month. some of its larger clients such as Zomato, Zipdial, Via.com, Jeevansathi.com, Naukri.com, Fortis healthcare, etc. The five-year old company offers voice and data communications products such as SuperReceptionist, SuperIVR, SuperConference and SuperFax.