Squad, a Delhi-based work automation startup recently snapped up a sum of $2.1 million as part of a funding round. Blume Ventures, Contrarian Capital, and Axilor Ventures, among others took part in the funding round. With offices in New Delhi and California, the team expanded to 32-staff and rechristened itself as the Squad from SquadRun.
According to news reports, the startup shall use the recent funds to scale up its technology, product, and data teams in India. Apurv Agrawal, Founder and CEO, Squad said, “We are also looking forward to hire people for the sales department in the US as we plan to on-board more large enterprises.”
There were several other investors who backed the two-year-old project include 91springboard, Emergent Ventures, Abstract Ventures, and Anthill Ventures. Besides, the round witnessed the presence of angel investors, Gokul Rajaram, Product Engineering Lead, Square and Shamik Sharma, Senior Technology Advisor, Myntra. “Squad has made machine learning practical and powerful for enterprise operations. This is what drove us towards investing in Squad. It is a disruptive platform in the $300 billion business process outsourcing industry, which efficiently blends human and machine tasks,” comments Karthik Reddy, Managing Partner, Blume Ventures.
Uber, Sephora, Tata group, Flipkart group, and Rocket Internet are some of the most significant clients for the firm. Agrawal remarked, “We turned profitable sometime in September but we wanted to invest ahead of revenue to scale the platform and get strategic investors on board.” The firm has more than a dozen mega enterprises as its client. The company is striving to shore up its revenue five-fold by the end of the current fiscal.
Squad’s platform combines human intelligence and artificial intelligence together to automate business processes for enterprises. It not only helps businesses to scale up speed, accuracy, flexibility, but also helps them to realize cost reduction. The AI powered digital platform can manage customer workflows at large scale. This will help global services companies improve responsiveness and bring down costs.