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startup | IST

Gupshup raises additional $240 million to expand global footprint

Gupshup's funding came from investors including Fidelity Management and Research Company LLC, Tiger Global, Think Investments, Malabar Investments, Harbor Spring Capital and others.

AI conversational messaging platform Gupshup has announced that it has raised an additional $240 million to expand in mobile-first economies around the world.
The funding, not long after the platform raised $100 million from US-based investment firm Tiger Global, came from 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.
"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," said Beerud Sheth, co-founder and CEO, Gupshup.
The platform, which has already raised $340 million this year, has grown rapidly over the last few years, exiting 2020 with an annual revenue run rate of approximately $150 million. It is currently present in India, South East Asia, Middle East, Eastern Europe, Africa and the US.
In a press release, the company said that it 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 earlier announced an expansion in its executive team with leadership hires in Corporate Development, International Business Development, Sales, Customer Success, Marketing and IT.
-with agency inputs