US-based GupShup acquires AI-powered Voice Leader Knowlarity for an undisclosed sum
San Fransico-based GupShup, a startup that helps businesses connect with customers through a variety of services, has acquired Knowlarity Communications for an undisclosed amount. The acquisition coincides with Gupshup’s industry-leading chat group and establishes Gupshup as a leader in voice and video communications, the company said.
Ambarish Gupta and Pallav Pandey co-founded a joint venture in 2009. Knowlarity provides cloud telephony, a flexible communication center, AI-enabled voice assistants, and speech analytics solutions to more than 6,000 customers in 65 countries.
The company operates in a voice-based Conversational Engagement market, ready to transform communication centers, IVR systems, and intelligent voice systems, accounting for an estimated $ 18 billion (TAM) marketable by 2024.
GupShup, which started last year, serves as a chat forum for businesses that want to communicate with customers through channels such as email, SMS, WhatsApp, Voice, and chatbot.
Over the past 12 months, Knowlarity has seen a 50% increase in revenue, while India’s international revenue has grown by 100% over the same period, the company said in a statement.
Knowlarityhttps://www.knowlarity.com/ provides unparalleled reliable and intelligent solutions that enable businesses to better engage their customers by using advanced AI-enabled voice and video solutions.
The company provides its services in industries including BFSI, Consumer Goods, IT / ITeS, and Healthcare, in a variety of customer trips including leading sales and production, customer service and support, automated calls, surveys, and feedback, logistics and delivery, and long-term work.
Additionally, Collaborates with Google Cloud for Speech Analytics and integration with the world’s leading CRM programs such as Salesforce, Freshworks, Hubspot, and Zoho among others. Knowlarity has the highest number of Unicorn customers in the voice market in India, it said.
“As business interaction with the consumer becomes more conversational, Gupshup is busy allowing businesses a number of ways to deliver rich information. With the addition of Knowlarity products, businesses will now be able to create seamless conversations on both text and voice channels, ”said Beerud Sheth, founder, and CEO, Gupshup.
Commenting on the development, Yatish Mehrotra, CEO, Knowlarity, said: “We at Knowlarity are excited to be a part of Gupshup. This will lead to a rich experience for our current and future customers as well as product enrichment and significant opportunities for spatial expansion. Our customer-centered, innovative, well-focused innovation and we see significant interactions with new products resulting from the merger of the two main groups. ”
“Our investment and our journey with Knowlarity over the years continues to strengthen our belief that India produces world-class SaaS enterprises. Gupshup and Knowlarity are naturally equal. We would like to congratulate the Gupshup and Knowlarity teams and wish them all the best as they build strong relationships in the years to come, ”said one of the Knowlarity investors, Subeer Monga, a partner in Mayfield India.
GupShup said the project is expected to be closed by the end of February 2022, subject to normal closure conditions. DC Advisory has acted as the sole financial advisor to Knowlarity on the matter, he adds.
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