AI-messaging startup Gupshup raises $100 million, valuation stands at $1.4 billion

Artificial intelligence-led messaging startup Gupshup has
been successful in raising $100 million from Tiger Global, pushing the company’s
valuation to $1.4 billion in the process. The startup which last raised funds
in 2011 is now the 10th Unicorn company to emerge out of India in
2021, as per a report by Business Insider India.

Reportedly, the company said that it would follow-up the current
investment with a second phase of funds raised from other investors.

Led by Artificial Intelligence (AI) technology, the application
shows the user enterprise messages in a categorised manner, classifying them in
divisions such as real estate, e-commerce, banking and others and then proceeds
to portray important pieces of information in a card.

Founded by former Elance co-founder Beerud Sheth, Gupshup
helps companies reach their customer base, and was the first company that
WhatsApp Business tied up with as a enterprise messaging partner.

“Customers expect to converse with businesses the way they
do with friends. They expect the conversation to be simple, easy, quick,
contextual, and personalised. Gupshup’s mission is to build the tools that help
businesses better engage customers through mobile messaging and conversational
experiences.

It’s like having a personal assistant that goes through your
texts and gives you the important information. Gupshup is taking the mess out
of messaging”, Sheth was quoted by Business Insider as saying.

Tiger Global, the company from which Gupshup acquired the
capital, is an investment firm based in the US, focusing majorly on the
internet, consumer, software, and financial technology industries.