Conversational messaging platform Gupshup has raised a fresh $240 million in funding from a clutch of investors, such as Fidelity Management and Research Company, Tiger Global, Think Investments and Malabar Investments, the enterprise stated in a statement on Wednesday. The investment which comes significantly less than 4 months immediately after it secured $one hundred million from investors and is mostly a adhere to-on funding round also saw participation from Harbor Spring Capital, particular accounts managed by Neuberger Berman Investment Advisers, White Oak, Neeraj Arora and other individuals.
Gupshup will use the fresh capital for secondary acquire of shares from existing and former workers as nicely as prior investors. The firm is also exploring appropriate M&A (merger and acquisition) possibilities to make on its organization prospects.
The US-headquartered enterprise led by co-founder and CEO Beerud Sheth that has considerable organization operations in India turned unicorn in April this year immediately after Tiger Global infused $one hundred million into the firm at a valuation of $1.4 billion. Gupshup has raised a total of $340 million in 2021 so far.
The firm develops options that let firms to interact with their consumers seamlessly employing many messaging platforms. Gupshup’s API (application programming interface), for instance, enables more than one hundred,000 developers and firms to make messaging and conversational experiences delivering more than 6 billion messages per month across more than 30 messaging channels. The enterprise claims to have exited 2020 with an annual income run price of around $150 million. Reportedly, India generates more than 80% of the firm’s organization.
“Conversations represent the new digital storefront for businesses – virtually every business will need to build them. We are transforming digital commerce around the world with conversational messaging,” stated co-founder and CEO Beerud Sheth.