Delhi based sales startup accelerator SquadStack raises $5 Mn in Series A funding round led by Chiratae Ventures. The round witnessed participation from existing investor Blume Ventures.
SquadStack was founded in 2014 by Apurv Agarwal, Kanika Jain and Vikas Gulati. The platform helps consumer businesses that sell high-ticket products and services across industries such as real estate, financial services, education, healthcare, and retail improve their sales conversions and funnel efficiency.
The startup helps companies that sell high-ticket products and services across industries in improving their sales conversions and funnel efficiency. Primarily, the company targets edtech, fintech, ecommerce and medtech companies that have seen huge growth since lockdown. It has also helped companies like Zomato, Walmart Group, Delhivery, Nestaway, Upstox, ZestMoney and Tata Group drive a 5-10x improvement in their funnel efficiency metrics using a combination of data science, cloud infrastructure and a distributed workforce.
In 2018, the company had also launched its Sales Acceleration Platform called SquadVoice, which was later rebranded to SquadIQ, in the Indian market. SquadIQ is a company that combines distributed workforce and machine learning to help companies scale their business with better conversions, speed, accuracy, flexibility, and quality.
Saswata Shankar De, GM of the SquadIQ business, 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.”
Venkatesh Peddi, Executive Director at Chiratae Ventures said, “In today’s competitive business environment, organisations need sales acceleration platform and analytics throughout the sales cycle.”
SquadStack CEO and cofounder Apurv Agrawal said, “We’re grateful to everyone who believed in our mission to create the ultimate sales acceleration and funnel efficiency stack for consumer-focused businesses around the world. To our customer partners, we promise that our vision to make your lives easier by providing the best quality products will never change.”
The company will utilise the funds for product growth and hiring in the US and India.