CometChat, a CpaaS (communication platform as a service) start-up on Tuesday announced that it has raised $10 million in a Series A funding round led by Signal Peak Ventures.
The “oversubscribed” round also included participation from existing investors Matchstick Ventures, Range Ventures, Unbound VC among others.
Founded in 2010 by siblings Anuj and Anant Garg, CometChat has built a communications platform for enterprises that provides them with plug and play text, chat, video and voice communications solutions to be integrated into their websites and apps. The company, which has headquarters in India and the United States, works with global names like HeySummit, Swedbank and Endeavour.
The company will leverage the fresh funding to enable growth acceleration along with platform enhancements. It also has plans to invest in expanding its global market share by investing in employee growth, accelerating ‘Go to Market’ strategies, scaling platform infrastructure and platform features.
Anuj Garg, Co-founder CEO, CometChat, said, “We are thrilled to add SPV as an investor and partner as we look to scale our platform offering and expand our growing customer base. This is an important milestone that we wouldn’t have reached without our incredible team. We look forward to further investing in our customers’ success.”
McKay Dunn, Partner, Signal Peak Ventures, said, “When I first met Anuj and Anant a few years ago I immediately knew that they were people that I wanted to work with. I was impressed by their extremely complementary skillsets and by the unique way they were pursuing a developer-first approach to chat. They have since been able to build out a world-class team and I couldn’t be happier to be a part of the CometChat journey.”
In addition to the Series A fundraising, CometChat has been investing in expansion and preparing for growth with numerous initiatives including the addition of former SendGrid marketing executive, Dan Mitzner, as the company’s Chief Marketing Officer. Along with recent investment in Marketing, CometChat has enhanced the stability and scalability of the platform, it said.
