Software-as-a-service (Saas)-based sales acceleration startup SquadStack, formerly known as SquadRun, has secured $5 million in its Series A funding round led by Chiratae Ventures. Existing backer Blume Ventures also participated.
Backed by the likes of Amit Ranjan, Deepinder Goyal, Girish Khera, Zishaan Hayath, Anthill Ventures, 91springboard and Abstract Ventures in its earlier financing rounds, the company has raised total funding of $12.5 million till now. It had picked up $2.1 million from Blume Ventures in April 2017.
SquadStack would utilize the funds to accelerate product growth and hire top product, engineering, and data science talent in the US and India, said the company in a press release.
A brainchild of Apurv Agrawal, Kanika Jain, Rishabh Ladha, and Vikas Gulati, SquadStack is a six-year-old company that combines data science and artificial intelligence to help businesses scale with better conversions, speed, accuracy, flexibility, and cost savings. The company mainly focuses on consumer businesses that sell high-ticket products and services across industries such as real estate, financial services, education, healthcare and retail.
With Zomato, Walmart Group, Times Group, Delhivery, Nestaway, Upstox, ZestMoney, and the Tata Group as its key clients, SquadStack claims to have over 200 customers on the platform.
Chirate has been quite active with Series A and seed funding bets this year. Besides SquadStack, the VC firm has led funding rounds in Oye Rickshaw, Railofy, Kristal.AI and Pando in 2020.
Zeotap, Hevo Data and Postman are the other Saas-based startups that have collectively raised around $200 million this year.