CometChat secures Rs 40 crore in venture debt

Live chat platform CometChat has secured Rs 40 crore in venture debt funding, the company said in a statement. The round was led by Utah-based Zions Venture Fund.

Mumbai-based CometChat was founded in 2019 by brothers duo Anuj and Anant Garj. The company has raised more than 145 crore in funding to date. The investors who participated in the funding rounds include Signal Peak Ventures, Matchstick Ventures, Range Ventures and Unbound Ventures, and others.

CometChat will use the fresh funding to scale its product offerings, strengthen its presence in Europe, and expand data centers in the APAC region.

“We are a revenue-focused business, growing in the international markets. The aim is to raise capital for an extended runway of 5 years as we move towards our growth plans,” said Anuj Garg, co-founder, and chief executive officer at CometChat.

CometChat offers businesses messaging and communications platforms within applications and websites to increase user interaction with brands. Using texting, voice calls, and HD video chat, users may engage in real-time communication.

The company claims that its product usage has increased by 300 per cent and its client base by 3x. It has handled more than 800 million connections thus far using its B2D (Business to Developer) strategy. Moreover, it asserts to be a reliable platform for communication on a global scale and is now collaborating with industries including e-commerce, community apps, telemedicine, edtech, internal communications, and business systems.