Gupshup is a company that provides conversational messaging services with offices in India, the United States, and the United Kingdom.Webaroo Inc. is the company that owns and operates it.
Gupshup (sometimes recognized as SMS Gupshup) is an interactional messaging service provider based in India, the US, and the UK. Webaroo Inc. is the company that owns and operates it. BFSI (banking, financial services, and insurance), retail, and e-commerce businesses can use the company’s SMS, email, voice, USSD, and IP messaging services, as well as chatbot creation.
“The kind of customer requirements we see drives our product innovation with a unique roadmap that differentiates from other players,” the CEO said. “Our products, prices and processes are far better suited to emerging markets and our current traction demonstrates that.”
Origin of Gupshup
Beerud Sheth, a co-founder of Gupshup and a graduate of IIT Bombay and MIT, worked for Citibank and then Merrill Lynch before entering the startup industry.
So when the internet was all the rage and names like Google, Amazon, and others boomed throughout the room, Beerud decided to take advantage of the opportunity to try something new. Gupshup was a pioneer in its field. The corporation was apparently paying to handle all traffic because it was paying for all SMS. As per the CEO, they expected expenditures to fall as output increased, but this did not happen for a variety of reasons. Second, due to regulatory restrictions, Gupshup was also unable to advertise as effectively.
“We were during a situation where we couldn’t subsidies nor monetize,” Beerud adds. “We are just focused on building a sustainable, viable, and profitable business for the long term, rather than scaling up in unprofitable ways”
How Gupshup Works
GupShup’s application programming interface is used by businesses to engage with customers through more than 30 contact networks, including SMS. Among the API features are chatbot development, omnichannel inbox capabilities, conversational AI, and client-side apps for handling interactions.
The money will be used to swiftly scale-up product and go-to-market campaigns around the world, according to the company, in order to expedite the transformation of the business-to-consumer business model with conversational engagements across messaging platforms.
Fundings and Growth of Gupshup
GupShup has raised a total of $384.1 million in seven rounds of investment. GupShup is backed by a group of eight investors. The most recent investors are Tiger Global Management and CRV. GupShup just raised $240 million in fundraising from Fidelity Management, Tiger Global, and other investors on July 28, 2021.
The company is succeeding in its aim and has gained a lot of traction in India, thanks to the country’s mobile-based digital economy, according to the company. According to the company, the Gupshup API is now utilised by over 100,000 businesses and developers and processes over 6 billion messages per month over more than 30 messaging channels. This has aided the company’s progress toward a $150 million annual revenue run rate, according to the company.
“Gupshup’s mission is to build the tools that help businesses better engage customers through mobile messaging and conversational experiences. We are thrilled with this investment from Tiger Global as we work toward our purpose, given its outstanding track record of making big, daring, successful bets on innovative, category-defining firms around the world,” he said.
Future of Gupshup
Gupshup, a provider of business-to-consumer communication solutions, recently obtained $240 million in funding from Fidelity Management, Tiger Global Management, Think Investments, Malabar Investments, and others. This is the company’s second investment in 2021, bringing the total amount raised to about $340 million.
GupShup’s most recent round was the Series F round, led by Tiger Global Management, on April 18, 2021, in which it raised $100 million and joined the unicorn club.
According to sources from July 28, 2021, Beerud Sheth, the business’s co-founder and CEO, claimed that the company is exploring a US listing in the future year. GupShup will also purchase back shares from its staff and early investors, according to him. This will help the company establish an excellent track record, which will lead to the establishment of relationships with major corporations.