MUMBAI, Nov 23: Cloud communications platform Knowlarity today announced raising USD 20 million in a funding round led by Dubai-based private equity firm Delta Partners.
The Series-C or third strategic round also saw participation from its existing investors Sequoia India and Mayfield, and included a small debt-based investment from Blacksoil and Trifecta Capital, Knowlarity said in a statement here.
Signal Hill, a leading independent M&A and private capital advisory firm, was the financial adviser on this transaction.
The latest investment takes the total funds raised by Knowlarity to USD 41 million, making it the most capitalised cloud telephony company in Asia, it said.
The funds raised would be used to expand into other international markets, make acquisitions and invest in advanced technology products for its customers.
“The latest funding round is a strong indication of our focus on robust unit economics, which has seen us recently achieve EBITDA break-even,” Knowlarity Founder and CEO Ambarish Gupta said.
“With the domain expertise they (investors) bring on-board, we will be able to provide more innovative consumer to business communication solutions to businesses around the world,” he added.
Knowlarity currently serves more than 15,000 customers across several emerging markets. (AGENCIES)
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