GuupshupThe startup of corporate communications, which started his journey in India more than two decades ago and became a unicorn four years ago, has raised a new round of over $ 60 million – but keeps his new appreciation in wraps.
In 2021, the Guupshup collected two rounds of financing within four months and received $ 340 million from significant investors such as Tiger Global, Fidelity Management, Think Investments and Malabar. These rounds – the first of the start of a decade – appreciated Guupshup $ 1.4 billion. However, Fidelity, who led the round after its unicorn milestone, decreased at least three times between 2023 and 2024, when it dropped to as low as $ 486 million.
The new funding round, which combines Globespan’s Capital Partners and Evolutionx debt equity, aims to help the launch of the San Francisco main office to expand their presence in the strong plants market, including India, Middle East, Latin America and Africa.
Starting does not reveal the exact debt, even though its founder and CEO Beerud Seth told Techcrunch that the share is “just over half”.
In 2004, the “Discussions” of the Guupshup – Disabled from India’s Släng – started as a platform to help companies communicate with customers via SMS. It gained popularity because the text messages were not free at the time, and people were looking for ways to send messages to their friends and community groups. As communication shifted from short communication (SMS) WhatsApp and Rich Communication Services (RCS), Startup changed these means with their chatbot services. Now that AI has become the term CatChall, and AI -agents – software that can perform special tasks on behalf of users – have been created everywhere, Guupshup has begun to give companies the opportunity to use representatives.
“There is a lot of demand from companies. Everyone has to build these ai -agents that operate through messages such as RCS and WhatsApp. So there is a tremendous demand for building these representatives and we need to support it,” Seth said.
Globally, AI agents have gained attraction as startup companies build their strong investors’ interest. Technical giants, such as Amazon, Google and Microsoft, also explore how to bring more from these representatives to users through their own platforms. Result: Competition is heating.
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Guupshup does not consider rising competition as a threat. Seth pointed out the startup of a significant installation template – which exceeds 50,000 customers in over 100 countries – and its product innovation experience due to years of business communication, strategic acquisitions and internal R&D development.
“Businesses can’t use a simple basic model on the shelf and just put them in front of customers. They need a lot of customization, and Guupshup comes to it. That’s what we offer,” he said.
After his last round in July 2021, the startup “tripled” his turnover and increased his profitability, Sheth said. However, it is unclear whether this increased appreciation led, as he said, this latest round was not priced.
“As a founder, you focus on value, and appreciation follows,” Seth said when he asked if he still considers the launch unicorn. “We act as we will be a big company.”
In addition to geographically expansion, Startup aims to utilize its fresh funding to improve its products used in industry, including car, banking, e-commerce, Fintech, media, payments, retail and travel. Its products also include click chat ads, AI campaign Copilot, Agent Assist and Campaign Manager.
Guupshup claims that thousands of companies have over 120 billion messages each year. Startup sees the progress of the IPO as the next big milestone.
“We talk to all advisers, lawyers, bankers, accountants, and so on to find out,” Seth said.
There is no special schedule for the startup, although Seth told Techcrunch that it could happen in 18-24 months.
Guupshup is investigating whether it should be listed about India’s stock exchange – a move that is a strategic rational, such as a startup view in India, where WhatsApp dominates the more favorable market. Among the reasons: it is easier to communicate their stories for local retail investors who better know WhatsApp and understand how Guupshup’s products, including its AI agents, work on the platform. However, as Guupshup is domiciled in the United States, a turn to India would trigger tax debts, which may require additional funding.
IPO “is one thing that we don’t control completely. The calendar depends as much on external factors as in the company,” Seth said.
