Conversational messaging platform providing company Gupshup acquires artificial intelligence-powered cloud communication startup Knowlarity Communications. The company officials did not provide any information regarding the valuation of this acquisition deal.
DC Advisory served as the financial adviser to Knowlarity in this acquisition deal, which is expected to close by February 2022. With this acquisition, Gupshup plans to use Knowlarity’s voice-based AI solutions for call centers and customer care to further expand the capabilities of its chatbot and artificial intelligence-powered messaging service.
Last year, Gupshup achieved unicorn status after its latest funding round led by Tiger Global. Conversational AI platform Gupshup was founded by Beerud Sheth, Dr. Milind R Agarwal, and Rakesh Mathur in 2004.
Gupshup’s platform processes more than 4 billion messages per month and has delivered over 150 billion messages in total. The company has a massive customer base of many industry-leading companies, including Truecaller, DishTV, HDFC Bank OYO, Ola, Zomato, HSBC, ICICI Bank, and many more.
CEO and Co-founder of Gupshup, Beerud Sheth, said, “As business-to-consumer engagement becomes conversational, Gupshup is busy enabling more ways for businesses to deliver rich experiences. With the addition of Knowlarity’s products, businesses will now be able to build seamless conversational experiences across both messaging and voice channels.”
Gurgaon-based cloud telephony firm Knowlarity was founded by Ambarish Gupta and Pallav Pandey in 2009. The startup specializes in providing automated communication by enabling operators to work online via Cloud.
Knowlarity’s services include click-to-call, number masking, multi-level IVR system, AI-powered solutions like Speech Analytics & VoiceBot, and several more. Before getting acquired by Gupshup, the company had raised more than $42 million from investors like Sequoia Capital, Delta Partners Capital Limited, Emergic Ventures, and others.
CEO of Knowlarity, Yatish Mehrotra, said, “Our customer-centric, innovation-focused cultures are perfectly aligned, and we see significant synergies and new products emerging from the combination of two great teams.”
He further mentioned that this agreement would provide their current and prospective customers with enhanced experiences, product enhancements, and significant geographic expansion opportunities.