San Francisco and New Delhi-based startup SquadStack has raised $5 million in a Series A funding round led by Chiratae Ventures. Existing investor Blume Ventures also participated in the round.
Founded in 2014 by Apurv Agarwal, Kanika Jain and Vikas Gulati,the startup helps consumer businesses that sell high-ticket products and services across sectors such as real estate, financial services, education, healthcare, and retail improve their sales conversions and funnel efficiency.
Apurv Agrawal, CEO of SquadStack said, “We're grateful to everyone who believed in our mission to create the ultimate sales acceleration and funnel efficiency stack for consumer focused businesses around the world. To our customer partners, we promise that our vision to make your lives easier by providing the best quality products will never change.”
“We've worked across industries because lead qualification and conversion is a challenge for every company irrespective of their industry or niche” said Saswata Shankar De, GM of the SquadIQ business.
According to the company the funds will be used for product growth and scaling its engineering and data science team in the US and india. While the company services both India and the US markets, its product offerings are tailored for market requirements.
In 2017, the firm had raised $2.1 million in pre-series A funding led by Blume Ventures. In 2019, it launched a similar offering as Series A.The offering was made in the massive US Real Estate market. During the initial months of covid-19, they were asked for a software to maximize profitability by the executives at multiple leading US broker teams.The executives also asked them to also provide team performance during the original market downturn. This led to the creation of their offering ‘Auctm', a business management platform that helps broker teams boost revenue, cut costs, and improve agent training and retention by applying its core principles of data-driven sales acceleration.