Cloud telephony start-up Knowlarity
Communications Pvt. Ltd has acquired Smartwards Services Pvt. Ltd, a Gurgaon
based startup that helps small businesses with loyalty programs.
This is the second acquisition of
Knowlarity, which employs about 450 people and has so far raised about $22.5 Million
from investors Sequoia Capital and Mayfield Fund since it started in 2009. It earlier
bought Unicom Techlabs Pvt. Ltd, another startup in the same space in January 2014,
and claims to serve about 15,000 customers in 65 countries.
Knowlarity competitors in the cloud
telephony space Exotel Techcom Pvt. Ltd and Ozonetel Systems Pvt. Ltd have also
made acquisitions in the last couple of years. Last year, Exotel acquired
Voyce, a platform that helps businesses collect customer feedback, as part of
its efforts to strengthen its customer service offerings, and voice based
social media startup Croak it.
In 2014, Ozonetel acquired the
speech recognition business of Yantra Software, a provider of speech and voice
technology products and services. Startups that cater to small businesses in
India have garnered some investor interest over the last year, with Snapbizz
Cloudtech Pvt. Ltd which devises technology for grocery stores, raising $7.2
Million in an investment round led by venture capital firms Jungle Ventures,
Taurus Value Creation, Konly Venture and Blume Ventures.
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