Sequoia, Mayfield in $19m Series C for India's Knowlarity

Dubai-based private equity firm Delta Partners Capital led the round, according to a post on Knowlarity's blog, with non-banking finance company BlackSoil Capital and Trifecta Capital contributing a venture debt component. The company will use the capital for international expansion and improvements to its technology products, as well as for M&A.

Knowlarity develops cloud-based communication products for enterprises, such as fax, conference calling, and receptionist services. It also offers interactive voice response technology for larger corporate clients to integrate into their IT systems, and acquired customer engagement platform Smartwards Services earlier this year. The company claims to have more than 15,000 customers.

The Series C round takes Knowlarity's total capital raised since its 2009 founding to $41 million, including a $16 million investment from Sequoia and Mayfield in 2014 and a INR350 million commitment by Sequoia in 2012. The company expects Delta's network in Africa and the Middle East to be a significant advantage as it expands in the region.

"We are excited about the investment and the quality of investors coming on board," said Knowlarity founder and CEO Ambarish Gupta. "With the domain expertise they bring on-board, we are confident that we will be able to provide even more innovative consumer to business communication solutions to businesses around the world and establish ourselves as global leaders in the segment."

Sequoia's investment came from its latest India fund, which closed in February at $920 million. The vehicle targets the technology, consumer and healthcare sectors, and includes a minority allocation to Southeast Asia.

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• Topics
• MENA
• South Asia
• Technology
• Support services
• Expansion
• India
• Sequoia Capital
• Mayfield
• TMT
• professional services
• Growth capital