User engagement platform CometChat raises Rs 40 Cr in debt

User engagement platform CometChat has secured Rs 40 crore in a Venture Debt round led by Zions Venture Fund.

The proceeds will be used for scaling up its product offerings, strengthening its presence in Europe and expanding data centres strongly in the APAC region, CometChat said in a press release.

CometChat has raised Rs over 145 crore till date and is backed by investors including Signal Peak Ventures, Matchstick Ventures, Range Ventures and Unbound Ventures.

Founded in 2019 by Anuj and Anant Garg, CometChat works with global enterprises by providing them a full-fledged messaging  and communications platform within apps and websites to improve brand’s user engagement. It allows users to get  real time engagement and have conversations via messaging, voice calling and HD video chat. 

According to CometChat, its software provides user to user engagement for a growing customer base via robust offering and helps enterprises save hundreds of developer hours and the associated costs that companies have to otherwise spend in building this tech from the scratch.

The Denver and Mumbai-based startup claims that its customer base has grown by 3x and product usage by 300%. The company with its B2D (Business to developer) approach, has handled over 800 million connections so far. It also claims to be a trustworthy communication platform worldwide and is presently working with sectors like marketplaces, community apps, telehealth applications, edtech, any internal messaging or enterprise system.