SquadStack has raised $5 million in its series A funding round, led by Chiratae Ventures, along with its existing investor Blume Ventures.
The New Delhi- and San Francisco-based startup works with companies to help them sell services to customers through improved conversion of business leads through its product SquadIQ.
Till date, the company had raised around $2.5 million. Now, the company wants to use the funds for product development, expanding the data science teams -- both in India and the US – and for hiring top talent.
Customer leads play a key role
Companies like Zomato, Walmart, Delhivery, Upstox, Zest Money and the Tata Group use their services to reach out to customers to sell high- ticket items via phone calls and improve sales efficiency.
The startup can capture about 40 data points from customer leads, on the basis of which it helps track customer persona, processes them and helps companies in their sales.
SquadIQ was launched in 2018 in India and has now been taken to the US as well, targeting the real-estate segment. Otherwise, SquadIQ helps sell high-ticket products and services across financial services, education, healthcare and retail.
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“We have worked with companies across the spectrum and our expertise is in converting leads into sales -- that is where we have found our sweet spot and using our advanced technology, we are offering these services to our clients,” said Saswata Shankar De, general manager of SquadIQ business.
In 2019, SquadStack launched its products for the US real-estate sector and had seen strong growth till COVID-19 hit the industry and caused a massive slowdown.
Now, American brokers are looking for software solutions to maximise their profitability and boost team performance during these tough times. This led to the creation of 'Auctm', a business management platform that helps broker teams boost revenue, cut costs, and improve agent training and retention.