SquadStack raises $17.5 million in Series B led by Bertelsmann

SquadStack has raised ₹140 crores in a Series B round led by Bertelsmann India Investments, along with existing investors Chiratae Ventures and Blume Ventures. The startup combines data science, artificial intelligence, and a decentralized network of sales experts to help consumer businesses scale with better conversions.

Established in 2017, SquadStack started with a vision to provide access to skilled work for anyone, anywhere. Since the pandemic hit, remote work and variabilisation of cost structure have emerged as key trends. SquadStack partners with existing sales talent and homemakers, allowing them to work from anywhere with the help of a smartphone. It will use this fresh infusion of funds to hire top talent to strengthen its team for expansion. It also plans to increase its sales experts base and further expand into new verticals.

Over 70 lakh telesales agents sell loans, credit cards, insurance, education, health and wellness products, and services to 20 crore Indians daily. However, over the decade, the telesales market has not seen adequate disruptive innovation for most stakeholders in the ecosystem. These include businesses that struggle to retain sales talent, telesales agents as well as end consumers. SquadStack integrates 3 core layers of innovation to manage the sales ecosystem for consumer businesses - decentralization to access top sales talent, AI-powered tools to manage the complete life cycle of the sales experts, and an omnichannel campaign management platform for businesses.

Apurv Agrawal, Co-Founder & CEO, SquadStack stated, “We’re working towards revolutionizing the ₹80,000 crores 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. 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.”

Rohit Sood, Partner, Bertelsmann India Investments commented,“ 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 with them in this journey to transform the sales outsourcing landscape.”

Venkatesh Peddi, Managing Director, Chiratae Ventures commented, “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.”