Gupshup was established 15 years ago and serves as a business messaging platform. Its headquarters is in San Francisco. The startup had collected $100 million in April and in the latest series F financing round it has managed to collect $240 million more from some of the big shots in the investment field.
The investors include Fidelity Management, Tiger Global, Think Investments, Malabar Investments, Harbor Spring Capital, and White Oak. TechCrunch’s latest interview with Beerud Sheth, co-founder, and chief executive of Gupshup revealed that the financing round was extended after getting such requests from its investors. Sheth also said that the company hopes to venture into public markets by next year even though it hasn’t been finalized. He included that there is a growing importance of conversation especially after the onset of pandemic and also the innovations that they introduced have achieved its result.
The startup is currently valued at $1.4 billion. The new funds will be used to provide more product services as told by Sheth.
Gupshup began its services as a group messaging platform. Over the years, it changed its services including conversational bots and supporting WhatsApp channels for businesses. Gupshup now has clients worldwide.
Sumeet Nagar, MD of Malabar Investments said that Gupshup has been displaying progress in India and other markets for a long while and that their company is “delighted to partner with Gupshup in the next stage of their journey”.