Tiger Global-backed unicorn Gupshup has bought OneDirect, an omnichannel, AI (artificial intelligence)-enabled customer service platform for an undisclosed amount, marking its fourth acquisition in the past six months, the conversational messaging platform said in a statement on June 2.
The acquisition will strengthen Gupshup’s suite of conversational solutions and will enable omnichannel conversational engagement with a live Agent Assist solution that can scale to thousands of agents with configurable workflows, and integrations with existing CRM (customer relationship management), and helpdesk systems, Gupshup said.
“Customer support is being transformed with conversational experiences that deliver instant, personalized experiences using both automated and manual solutions across a range of messaging channels,” said Beerud Sheth, Co-founder, and CEO of Gupshup.
“OneDirect, with their proven leadership in helping leading brands transform omnichannel customer service, is a valuable addition to our Conversational Engagement Platform. We welcome OneDirect to the Gupshup family,” he added.
OneDirect claims to have processed over 1 billion customer interactions across 10 different languages for leading brands across BFSI (Banking, Financial Services, and Insurance), Retail, Consumer Electronics, Travel, and Hospitality.
“We are excited to join the Gupshup family and look forward to building more efficient and personalized conversational experiences. Gupshup’s advanced AI capabilities combined with Onedirect's robust customer service and engagement platform will provide businesses the ability to reinvent customer experience”, said Vishrut Chalsani, Co-founder and CEO, OneDirect.
OneDirect’s key investors include Sequoia Capital, American Express, and ruNet. “Gupshup’s proven expertise and market leadership in the CPaaS space and OneDirect’s truly omnichannel customer service platform is a winning combo for businesses looking to redefine digital customer experience (CX)”, said Bharat Singh, Operating Partner, Sequoia Capital.
OneDirect’s notable customers have a strong overlap with those of Gupshup and include brands like Canara Bank, Tata Capital, SBI Card, and Paytm, among others, Gupshup said.
This is Gupshup's fourth acquisition in the past six months after purchasing Active.Ai, a financial services-focused conversational artificial intelligence platform in April, cloud communications firm Knowlarity Communications in February 2022, and rich communications services (RCS) business messaging platform, Dotgo in September 2021.
The company has raised around $340 million at a valuation of $1.4 billion across two financing rounds from investors such as Fidelity, Tiger Global, and others in 2021. It currently has a presence in India, Latin America, Eastern Europe, Southeast Asia, the Middle East, and the United States.
As of July 2021, Gupshup had a revenue run rate of about $150 million, of which over 80% of its revenue comes from India, followed by the United States and Latin America.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
