SquadStack raises Rs 140 cr in a Series B round led by Bertelsmann India Investments

SquadStack, a SaaS-enabled Talent Marketplace for Sales, on Tuesday announced that it has raised Rs 140 crore in a Series B round led by Bertelsmann India Investments, along with existing investors Chiratae Ventures and Blume Ventures.

The company said in a statement that the funds will be utilised to hire top talent to bolster its team for expansion, along with executing its plans to increase its base of sales experts and further expand into new verticals.

SquadStack was established in 2017 with the aim to provide access to skilled work for anyone, anywhere. The Noida-based start-up deploys a combination of data science, artificial intelligence (AI), and a decentralised network of sales experts to help consumer businesses scale with better conversions.

“We’re working towards revolutionizing the Rs 80,000 crore Indian telesales industry that lacks innovation. Our combined solution of technology and human expertise solves a negative ROI problem for businesses and financially uplifts sales talent across the country,” said Apurv Agrawal, co-founder-CEO, SquadStack.

“We’re looking to significantly expand our team. We believe that in the long run, great products & profit are the byproduct of a great team and work culture. We’re excited to partner with the BII team who have deep experience in scaling large platform businesses globally,” he further added.
 

Rohit Sood, Partner, Bertelsmann India Investments said, “We have a strong bullish thesis on ‘future of work’ and SquadStack fits strongly in that as their technology provides ownership and flexibility to the large, diverse and distributed sales talent in the country. We instantly formed a connection with the founding team as we have strong convictions in their data and product driven approach to this complex problem. We are excited to partner them in this journey to transform the sales outsourcing landscape.”

“SquadStack is solving massive and persistent problems of the sales industry. By productizing sales services to manage the challenges of fragmented supply, SquadStack’s tech-driven solution is truly revolutionizing the industry,” said Venkatesh Peddi, Managing Director, Chiratae Ventures.