KUALA LUMPUR, April 9 (Bernama) -- Gupshup has raised US$100 million in funding from Tiger Global Management, propelling its valuation to US$1.4 billion. (US$1 = RM4.13)
Based on a statement, this funding will be followed by a second close with significant additional funds raised from more investors, to be announced later.
This latest round follows years of profitable growth, product innovation and customer adoption that saw Gupshup emerge as the global leader in conversational messaging.
Gupshup’s API enables over 100,000 developers and businesses to build messaging and conversational experiences delivering over six billion messages per month across more than 30 messaging channels.
Gupshup will use this investment to rapidly scale product and go-to-market initiatives worldwide, in order to accelerate the transformation of business-to-consumer interactions with conversational experiences delivered over messaging channels.
“Gupshup’s mission is to build the tools that help businesses better engage customers through mobile messaging and conversational experiences,” said Gupshup Cofounder and Chief Executive Officer, Beerud Sheth.
“As we work towards our mission, we are delighted with this investment from Tiger Global, given its incredible track record of making big, bold, successful bets on innovative, category-defining companies worldwide.”
Meanwhile, according to John Curtius, Partner at Tiger Global Management, the growth in business use of messaging and conversational experiences, transforming virtually every customer touchpoint, is an exciting secular trend.
He said: “Gupshup is uniquely positioned to win in this market with a differentiated product, a clear and sustainable moat, and an experienced team with a proven track record.”
-- BERNAMA
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