Circles.Life has already signed deals with key networks that have the widest coverage in both countries and will be the first to introduce a "100% digital telco experience" in these markets. This comes after Circles.Life closed a Series C round of financing led by Sequoia India.
Besides expanding to international markets, the funding also aims to enable Circles.Life to continue to redefine the mobile telecom sector by expanding the company’s range of personalised digital services. To do so, the company has opened a data science and engineering center in Bangalore and acquired several companies, such as Fratics and Klassify, to leverage their machine learning capabilities. Additionally, Circles.Life committed another SG$25 million to its engineering centre.
Circles.Life has garnered over 5% of Singapore’s mobile subscriber market share since 2016, making it the country’s fastest-growing telco. In a press conference, it said that its Net Promoter Score, which tracks customer satisfaction, customer experience and loyalty, sets a new bar for the sector with a rating of 50 plus. According to Circles.Life's co-founder and CEO Rameez Ansar, a lot of telcos in Singapore and around the world are still in the negatives.
“Circles.Life was built on a mission to give power back to the customers. Because of this mission and our innovative digital platform, we've raised the bar in Singapore's telco space. The significant investment from a blue-chip venture capital firm is a testament to the impact we bring to the industry. We plan to offer more personalized digital services and revolutionize the telco industry globally, using our tech stack, Circles-X,” said Ansar.
Some of the Circles.Life’s recent digital lifestyle services include Discover, an AI-driven mobile events app, and Ride for Rewards, a tie-up with Singapore’s EZ Link contactless transit smart card that allows commuters earn points that can be redeemed from a range of partners, including Grab and Lazada, as well as extra data from Circles.Life.
At the press conference, Circles.Life also unveiled SG$20 unlimited data as an upgrade of its most popular product, 20 GB for S$20 plan. It is offered as a Plus Option on top of their base plan for unlimited data use and available for both existing and new users. Users who are on the existing 20GB for SG$20 plus plan will transit to the S$20 Unlimited plan, while new customers enjoy a complimentary SG$20 Unlimited plus option for their first month of signup.
Additionally, the company has partnered HL Assurance to introduce the new Circles PhoneProtect device insurance plan for SG$7 a month. Targeted at busy customers who want their device repaired instead of replaced, the add-on covers screen cracks, liquid damages, and door-to-door replacements.
The company’s proprietary telco-in-the-cloud operating system Circles-X allows it to launch new services in weeks instead of years. Circles-X’s smart analytics and API-based platform also supports easy third-party integration with a wide range of partners and delivers a highly flexible and completely digital customer experience across the entire customer service journey. As a result, 80% of subscribers engage with the Circles.Life app on a weekly basis.
“Circles.Life has a fresh and disruptive approach in reimagining what the telco experience of the future can be for millions of people. It’s an asset-light model, combined with sophisticated and battle-hardened cloud-based software, allowing them to partner with progressive telcos to serve millennials with better experience, more convenience, and more competitive mobile data rates,” said Sequoia Capital India managing director Mohit Bhatnagar.