CpaaS company CometChat raises $10 million

Denver and Mumbai-based communications platform-as-a-service (CpaaS) company CometChat on Tuesday said it has raised $10 million in a Series A funding round.

The oversubscribed round was led by Signal Peak Ventures. It also saw participation from existing investors Matchstick Ventures, Range Ventures, and Unbound VC.

CometChat has built a communications platform for enterprises that provides them with plug and play text, chat, video and voice communications solutions to be integrated in their websites and apps.

The company works with global names like HeySummit, Swedbank and Endeavour.

"We are thrilled to add SPV as an investor and partner as we look to scale our platform offering and expand our growing customer base. We look forward to further investing in our customers' success," said Anuj Garg, co-founder CEO at CometChat.

The company claims that the Series A funding will enable growth acceleration along with platform enhancements. It plans to expand its global market share by investing in employee growth, scaling platform infrastructure, and platform features.

"I'm incredibly excited to partner with the CometChat team as they reimagine the way developers implement chat across websites and apps," said McKay Dunn, Partner, Signal Peak Ventures.

In addition to the Series A fundraising, CometChat has been investing in expansion and preparing for growth, including hiring former SendGrid marketing executive Dan Mitzner as the company's Chief Marketing Officer.

The company was selected for TechStars Boulder Accelerator Programme. In 2020, it had raised $1.6 million in pre-Series A round.