Gupshup Inc., the developer of a conversational artificial intelligence platform for marketing, commerce and support automation, announced Wednesday it has raised more than $60 million in mixed equity and debt financing from Globespan Capital Partners and EvolutionX Debt Capital to expand its operations.
Founded in 2004, Gupshup began as a text messaging platform. It now focuses on building industry-trained AI agents to help businesses handle customer and employee interactions across multiple communication channels. These include voice, websites, text services and mobile apps.
The company’s AI agent solutions are tailored for industry-specific capabilities, with the flexibility to adapt to industry jargon and company culture. They can also engage with customers through conversational AI experiences, supporting use cases such as marketing, sales and support.
“We’re at an inflection point where AI agents are transitioning from experimental technology to business-critical infrastructure, leading to extraordinary global demand for our solutions,” said founder and Chief Executive Beerud Sheth. “Businesses recognize that conversational AI is driving enormous competitive advantages through superior customer experiences.”
Since emerging as a technology, AI agents have captured enterprise attention with their capability to complete tasks with little or no human supervision. Major tech companies, including Amazon.com Inc., Google LLC and others, have started to provide agentic AI services. Model developers, such as OpenAI, Anthropic PBC and Meta Platforms Inc., have released upgraded large language models to power AI agent feature sets.
Gupshup currently claims more than 50,000 customers spanning more than 130 countries, including automotive-industry focused Petromin Corp., Dutch paint manufacturer Akzo Nobel N.V. and Kotak Mahindra Bank Ltd. The company says that it currently powers more than 120 billion messages annually with its Conversation Cloud technology.
Its competitors include companies such as Twilio Inc., Yellow.ai and Bird B.V.
“Gupshup has been the market leader at every stage of industry evolution from basic messaging to conversational AI across text and voice, which has led to consistent revenue growth and margin expansion,” said Rahul Shah, a partner at EvolutionX Debt Capital.
Image: Pixabay
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