Business Wire

Gupshup Raises Additional $240 Million to Fast-Track Global Conversational Messaging Vision

Share

Gupshup, the leader in conversational messaging, today announced it has raised an additional $240 million in follow-on funding from an industry-leading group of investors including Fidelity Management and Research Company LLC, Tiger Global, Think Investments, Malabar Investments, Harbor Spring Capital, certain accounts managed by Neuberger Berman Investment Advisers LLC, White Oak, Neeraj Arora and others.This funding round follows the $100 million raise from Tiger Global in April, at a $1.4 billion valuation.

Gupshup will use this investment to continue executing its vision and for secondary purchase of shares from current and former employees as well as prior investors. Gupshup continues to invest in product innovation for digital commerce enablement as well as expanding go-to-market initiatives in mobile-first economies around the world. Gupshup is also exploring M&A opportunities to expand its business opportunities. The company earlier announced an expansion in its executive team with leadership hires in Corporate Development, International Business Development, Sales, Customer Success, Marketing, and IT.

“We see substantial growth in India’s digital economy,” said Shashin Shah, Managing Principal at Think Investments. “Gupshup’s platform is an essential tool for businesses building a digital footprint. We’re excited to partner with Gupshup, given its market-leading position, innovation-led growth and attractive financial profile.”

“We have followed Gupshup’s progress for a long while and believe that they are the most evolved customer communications platform In India and increasingly in other emerging markets, with a leadership position in the most attractive and fastest growing sub-segments of the market,” said Sumeet Nagar, Managing Director, Malabar Investments. “We believe that Beerud and team have the unique opportunity to expand the addressable market on the back of new offerings and scale the business up significantly, which is a perfect recipe for massive value creation. I have known Beerud for over three decades, and all of us at Malabar are delighted to partner with Gupshup in the next stage of their journey.”

“We believe the digitization of India is in the early stages of transformational growth, powered by critical communications infrastructure,” said Subir Jajoo, a Partner at Harbor Spring Capital. “Gupshup has built a leading platform to enhance business-consumer engagement, and we are pleased to partner with the company as it continues to improve the digital experience through innovation, reliability and customer service.”

“Conversations represent the new digital storefront for businesses - virtually every business will need to build them,” said Beerud Sheth, co-founder and CEO, Gupshup. “We are transforming digital commerce around the world with conversational messaging. We look forward to partnering with our new investors given their incredible track record of backing category-creating companies. We are also gratified by the opportunity to provide partial liquidity and great returns to early investors and employees that put their faith in Gupshup.”

Enabling digital commerce with conversational messaging, helps businesses across industries take their customers on AI-powered conversational journeys on messaging apps, across marketing, commerce, and support workflows. Customers can discover products, pay for them, track delivery, provide feedback and get support, while chatting with their favorite brands like they would with friends and family.

Gupshup's last funding round was in April 2021. The company has raised $340 million in 2021. Gupshup grew rapidly over the last few years, exiting 2020 with an annual revenue run rate of approximately $150 million.

Additional Resources

About Gupshup

Gupshup enables better customer engagement through conversational messaging. Gupshup is the leading conversational messaging platform, powering over 6 billion messages per month. Across verticals, thousands of large and small businesses in emerging markets use Gupshup to build conversational experiences across marketing, sales, and support. Gupshup's carrier-grade platform provides a single messaging API for 30+ channels, a rich conversational experience-building tool kit for any use case and a network of emerging market partnerships across messaging channels, device manufacturers, ISVs, and operators. With Gupshup, businesses have made conversations an integral part of their customer engagement success. Gupshup is present in India, LATAM, Southeast Asia, Middle East, Eastern Europe, Africa, and the United States. Visit www.gupshup.io. Converse with the Gupshup bot.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Press
Richard Laermer
RLM PR | gupshup@rlmpr.com | (212) 741-5106 x 216

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

PAN Finance Names Libertex ‘Global CFD Broker of the Year’29.3.2024 06:25:00 CET | Press release

As the first quarter of 2024 draws to a close, Libertex is thrilled to announce its first accolade of the new year! The established global financial publication PAN Finance has determined Libertex to be the ‘CFD Broker of the Year – Global 2024’ following a rigorous evaluation process conducted by the publication's highly experienced editorial and research teams. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240328235325/en/ (Graphic: Libertex) PAN Finance is a trusted source of global financial intelligence with an impressively wide readership across 150 countries. Its ecosystem includes a quarterly magazine, special reports, a news website, and various social media channels. As an organisation, PAN Finance is committed to providing concise, intelligent, and up-to-date news for a worldwide readership of specialists spanning the entire finance industry. The company's awards programme aims to serve as a true indicator of exc

Midea Group releases its first-ever ESG brand story with an unexpected VIP visit highlighting its commitment to sustainability.29.3.2024 02:39:00 CET | Press release

Midea Group: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240328526418/en/ Background: Midea Group, a leading global technology group, recently released its 2023 Environmental, Social, and Governance (ESG) Report with ambitious sustainable development goals set for 2030. They include achieving over 500 megawatts of photovoltaic power generation, reducing greenhouse gas emission intensity (scopes 1 and 2) by 0.040, secure Energy Management System Certification for 50 factories, and achieve 100% carbon footprint accounting for major categories of smart home appliances. This is aligned with the Sustainable Development Report Standards of the Global Report Standards of the Global Reporting Initiative (GRI). The new report and campaign focuses on four dimensions: Protect the Blue Planet, Build a Harmonious Community, Practice 'Bring Great Innovations to Life', and Jointly Create the Prosperous Ecology. The campaign: Midea’s ESG

DC Secretary Announces Annual Determinations Committees Outcome28.3.2024 21:14:00 CET | Press release

DC Administration Services, Inc. has today announced the composition of five regional Determinations Committees (DCs), effective from April 27, 2024. Voting Dealers (for all regions): Voting Non-Dealers (for all regions): Bank of America N.A. Citadel LLC Barclays Bank plc Elliott Management Corporation BNP Paribas Pacific Investment Management Company LLC Citibank, N.A. Deutsche Bank AG Goldman Sachs International JPMorgan Chase Bank, N.A. Voting Dealer for the Americas, EMEA, AEJ, and Japan Determination Committees: Mizuho Securities Co., Ltd. The process for selecting DC members is specified in the DC rules. The DC rules, along with more information about the Determinations Committees and what they do can be found at the Determinations Committees website: https://www.cdsdeterminationscommittees.org/. View source version on businesswire.com: https://www.businesswire.com/news/home/20240328441002/en/Contact information Press Inquiries: Orlando Figueroa orlando.figueroa@citadelspv.com

LambdaTest Launches The Phoenix Project, an Employee Resource Group for Women28.3.2024 16:00:00 CET | Press release

LambdaTest, a leading cloud-based unified testing platform, announced the launch of The Phoenix Project, an Employee Resource Group (ERG) dedicated to supporting and promoting the success of its female employees. “LambdaTest is committed to fostering a diverse, inclusive, and equitable workplace where all employees feel valued and empowered to reach their full potential,” said Chandini Chopra, VP of People and Culture at LambdaTest. “The Phoenix Project is a critical step towards achieving this goal by providing a platform for professional development, networking, and mentorship, especially for our women employees.” The Phoenix Project Aims To: Offer professional development workshops, networking opportunities, and dedicated time off for women to participate in ERG initiatives. Provide mentorship programs connecting senior female employees with mentees. Promote leadership development among women within the company. Create a sense of community for women in the workplace. Leadership and

The reopening of the Yokohama Museum of Art adds another innovative and distinctive venue for events in Yokohama28.3.2024 16:00:00 CET | Press release

After extensive renovations, the iconic Yokohama Museum of Art has reopened its doors to visitors from all over the world. The museum’s reopening paves the way to new and closer collaboration with international events in Yokohama. This extraordinary venue is the ideal setting for a one-of-a-kind gathering, in part, supported by the Yokohama Convention & Visitors Bureau (hereinafter YCVB). The Yokohama Museum of Art Founded in 1989, the Yokohama Museum of Art collects over 14,000 works of art that reflect the many facets of life in Yokohama—past, present, and future. The reopening of the museum coincides with the Yokohama Triennale, an international exhibition featuring contemporary artists whose decentralized exhibits turn the entire metropolis into an art museum. The 8th Yokohama Triennale is being held from March 15 to June 9, 2024, with the Yokohama Museum of Art being a pivotal venue for the exhibition. With the museum firmly back on the map as Yokohama’s leading artistic venue, YC

HiddenA line styled icon from Orion Icon Library.Eye