Gupshup, a business messaging platform founded in India over two decades ago, has recently secured over $60 million through a combination of equity and debt financing. The funding round was led by Globespan Capital Partners and EvolutionX Debt Capital. The company has chosen not to disclose its current valuation, leaving its unicorn status—previously achieved in 2021 when it was valued at $1.4 billion—uncertain.
In 2021, Gupshup raised $340 million from investors such as Tiger Global, Fidelity Management, Think Investments, and Malabar Investments. However, between 2023 and 2024, Fidelity reduced its internal valuation of Gupshup multiple times, bringing it down to approximately $486 million.
The newly acquired funds are intended to bolster Gupshup’s presence in high-growth regions, including India, the Middle East, Latin America, and Africa. The company plans to enhance its AI agent offerings, which are designed to automate customer interactions across various messaging platforms like WhatsApp and Rich Communication Services (RCS).
CEO Beerud Sheth emphasized the growing demand for AI agents among enterprises, stating, There’s a lot of demand coming from enterprises. Everybody needs to build these AI agents, which work through messaging like RCS and WhatsApp or through voice. So, building out these agents, there’s huge demand, and we need to support it.
Despite increasing competition from tech giants like Amazon, Google, and Microsoft, Gupshup remains confident in its market position. The company serves over 50,000 customers across more than 100 countries and delivers over 120 billion messages annually. Its product suite includes AI Agents, Campaign Manager, Click-to-Chat Ads, AI CoPilot, and Agent Assist.
Since its last funding round in July 2021, Gupshup has tripled its revenue and improved profitability. The company is also considering an initial public offering (IPO) within the next 18 to 24 months and is exploring the possibility of listing on Indian stock exchanges. However, as a U.S.-domiciled company, this move would involve tax implications and potential additional funding.
Gupshup’s journey began in 2004 as a platform facilitating business-to-customer communication via text messages. As communication channels evolved, the company expanded its services to include chatbot solutions on platforms like WhatsApp and RCS. With the rise of AI, Gupshup has further developed its offerings to include AI agents capable of performing specific tasks on behalf of users.
The company’s strategic acquisitions, such as the purchase of DOTGO in 2021, have enhanced its capabilities in RCS business messaging. Additionally, Gupshup’s AI-powered tools enable brands to automate complex user interactions with personalized experiences delivered over messaging apps and voice channels.
In 2024, Gupshup introduced agentic AI features, allowing AI systems to perform complex tasks, make decisions, and execute multi-step processes based on user inputs. The company’s AI Campaign Co-Pilot assists marketing professionals in managing messaging campaigns across multiple channels.
Gupshup’s platform also offers integration capabilities with various business systems, including CRM platforms, e-commerce systems, and enterprise applications. These integrations enable businesses to connect their existing systems with Gupshup’s conversational interfaces, facilitating seamless data flow and process automation.
As Gupshup continues to innovate and expand its services, it remains focused on providing businesses with the tools necessary to engage customers through mobile messaging and conversational experiences. The recent funding will support the company’s efforts to scale its product suite and go-to-market initiatives worldwide, further solidifying its position as a leader in conversational messaging.
