Gupshup Secures $60M in Funding, Unicorn Status Still Uncertain
▼ Summary
– Gupshup, a business messaging startup, raised over $60 million in a new funding round but did not disclose its updated valuation.
– In 2021, Gupshup raised $340 million at a $1.4 billion valuation, but Fidelity later slashed its internal valuation to as low as $486 million.
– The new funding, a mix of equity and debt, will support expansion in high-growth markets like India, the Middle East, Latin America, and Africa.
– Gupshup has shifted from SMS to AI-powered messaging services, focusing on AI agents for businesses using platforms like WhatsApp and RCS.
– The startup is planning an IPO in 18–24 months, potentially listing in India, though it faces tax liabilities due to its U.S. domicile.
Gupshup, the business messaging platform that achieved unicorn status in 2021, has secured $60 million in fresh funding, though its current valuation remains undisclosed. The latest investment, a mix of equity and debt from Globespan Capital Partners and EvolutionX Debt Capital, will fuel the company’s expansion in high-growth markets like India, the Middle East, Latin America, and Africa.
Founded in 2004 as an SMS-based communication tool, Gupshup has evolved alongside shifting consumer preferences, transitioning to WhatsApp, RCS, and AI-powered chatbots. Today, the company is doubling down on AI agents, which enable businesses to automate customer interactions through messaging and voice platforms. CEO Beerud Seth emphasized the growing enterprise demand for customized AI solutions, positioning Gupshup as a key player in this competitive space.
Despite Fidelity’s internal valuation cuts, slashing its stake from $1.4 billion to $486 million, Gupshup reports tripled revenue and improved profitability since its last funding round in 2021. Seth remains optimistic, stating the company operates with a long-term vision rather than chasing valuation milestones.
With over 50,000 customers across 100+ countries, Gupshup processes 120 billion messages annually for industries ranging from banking to e-commerce. The company is now eyeing an IPO within the next 18–24 months, potentially listing on Indian exchanges to leverage its strong local brand recognition. However, regulatory hurdles and tax implications, stemming from its U.S. domicile, could complicate the process.
As competition intensifies with tech giants like Google and Microsoft entering the AI agent space, Gupshup is betting on its deep industry expertise and scalable infrastructure to maintain its edge. Whether it reclaims its unicorn status or not, the company’s next chapter hinges on executing its global growth strategy and navigating the complexities of going public.
(Source: TechCrunch)
