Announcements, Conversational Marketing, Digital Commerce

Gupshup raises additional $240 million to fast-track global Conversational Messaging vision

By Beerud Sheth, Co-Founder and Chief Executive Officer | Gupshup

I’m excited to share that Gupshup raised an additional $240 million in funding from a group of industry-leading investors including Fidelity Management and Research Company LLC, Tiger Global (who made an additional investment), Think Investments, Malabar Investments, Harbor Spring Capital, certain accounts managed by Neuberger Berman Investment Advisers LLC, White Oak and Neeraj Arora, among others. These funds will go towards a share buyback from employees and existing investors as well as towards continued growth in the business. This round is an extension of the previous $100 million funding round led by Tiger Global in April.

A portion of the funds will be used for a partial share buyback from employees and early investors. Nothing in my entrepreneurial journey gives me more satisfaction than sharing our company’s success with our employees. I’m also grateful to the early investors that put their faith in us and glad we can give them a great return.

In my earlier note, written at the time of the April funding, I outlined our rich history of innovation in messaging and conversational technologies and introduced a vision of a future where customers interact and transact with businesses on their messaging apps via conversational messaging.

Since then we have been very busy executing. We doubled our staff strength, hiring talented individuals across virtually every function including engineering, product, marketing, sales, customer success and more. We continue to add conversational AI specialists to the team.  We’ve expanded our management team to drive our growth in India and in mobile-first regions around the world. We are also actively looking to expand through recruiting as well as M&A.

We have accelerated our product innovation in Conversational AI to enable the creation of intelligent bots and improve on-device messaging experiences. We are strengthening our AI Tools and Workbench along with pre-built, pre-tested AI data models that work in a plug-n-play mode.  Listen to our podcast episode on Conversational AI here.

We have launched conversational solutions to enable Digital Commerce businesses. Enabling digital commerce with conversational messaging helps businesses across industries take their customers on conversational journeys on messaging apps, across marketing, commerce and support workflows. Customers can discover products, pay for them, track delivery, provide feedback and get support, while chatting with their favourite brands like they would with friends and family. Listen to our podcast episode on Conversational Commerce here

Built on the Gupshup IP (GIP) messaging channel, we developed and launched solutions for the digitization of restaurants, solutions to transform Out-of-Home advertising and 1-click bill payment solutions to make collecting payments via messages more efficient for businesses. We’ve strengthened our messaging platform by adding advanced APIs to simplify multi-step journeys like KYC, Loan Processing and also APIs for exciting new channels like Instagram.

There are many new products brewing in the labs. Please expect to hear from us about an accelerating stream of innovation.

In closing, we remain focused on our vision, wedded to innovation, committed to our customers and eager to hire talented employees as we accelerate towards a world where conversations drive business.

Chatbots

How Chatbots Are Transforming the Healthcare Industry

“The advancement of technology is based on making it fit in so that you don’t really even notice it, so it’s part of everyday life.”

This quote by Bill Gates on technological innovation is apt when you consider how AI-powered conversational chatbots are revolutionizing almost all sectors. They have impacted the healthcare industry as well. While scientists and doctors are pushing the boundaries of medicine, breakthroughs in technology like NLP (natural language processing) and ML (machine learning) are changing how patients and doctors communicate.

2020 was a rough year for the healthcare industry. Everyone is still in a rush to find solutions to cope with their medical crises in the pandemic. Researchers are now looking for AI-based solutions that can crawl through a large volume of data and provide meaningful insights. Today, patients need a platform that offers quick access to information and other medical facilities. Chatbots are one of the solutions that have the power to revolutionize the healthcare industry.

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Conversational Support

Emergence of Conversational Support

An ideal customer support platform engages customers from the word go and offers a conversational experience that is personal as well as efficient at the same time. Gone are the days where a customer would hold on to a phone call in a queue just to get a query answered. A business would likely lose a loyal customer or never get a new customer onboarded in the first place.

Most customers these days wish to communicate with the brand in a conversational way to discuss their issues. Customers want real-time acknowledgement and resolution of problems, which traditionally has been a problem area with emails and IVR-based support desks.

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Conversational AI, Fintech

Conversational AI is transforming the Fintech industry

The fintech industry has seen a drastic decrease in leads due to various reasons such as less employee productivity, an increase in online frauds, and obsolete cold-emailing. However, artificial intelligence (AI) has helped fintech businesses eliminate these issues at some level. But, still, something is lacking, and that’s the direct relationship between the consumers and the business with strong customer service.

With the boom of AI chatbots, this issue was majorly taken care of. However, not everybody has still understood how it could help the fintech industry.

Let’s see how AI chatbots have proved to become one of the most conventional ideas to boost the financial market.

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Conversational Marketing

Start real-time conversations with customers via Conversational Marketing

Messaging is the most preferred way of communication today, and for good reason too. It’s fast, easy and is more conversational in nature. For all these reasons and more, consumers are now preferring to communicate with businesses and their favorite brands via texting or messaging. Brands and businesses can make a choice today to cater to customers’ needs and take them through the marketing funnel through a series of personalized conversational experiences. It’s time to make your business feel personal again.

What is Conversational Marketing?

Conversational marketing helps businesses build relationships with customers by creating a series of personalized conversational experiences. These could be across physical and digital platforms. However, mass personalization is no longer the goal. Marketers want to have one-on-one conversations with their customers through the Awareness-Interest-Decision-Action (B2C) sequence to learn what they are looking for, and develop a stronger, long-term relationship with them. Hence, the importance of conversational marketing in a customer journey cannot be emphasized enough.

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Conversational AI

Conversational AI: The future of Insurance Companies

While talking about the insurance industry, the very first thing people discuss is its inadequate staff, extensive forms, poor customer service and loads of paperwork. Since the sector has realized these issues, it has started investing more in AI and virtual assistants.

With this change, Conversational AI seemed to bring about a revolution in the insurance industry. The top Insurance companies can transform their customer service through AI chatbots while slashing operational expenses dramatically.

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Conversational Experiences

Improve Customer Experience with Conversational AI

In the present-day “buyer’s market”, terms like customer engagement, customer satisfaction and customer experience (CX) are all the rage. And with good reason.

The modern customer is informed, digitally-savvy, and demanding. Great products and suitable prices are not enough to satisfy them, much less earn their loyalty. They expect brands to understand them, hear them, and treat them as unique individuals. Instead of generic, cookie cutter-type shopping experiences, they expect smooth, convenient, and personalised experiences at every touchpoint, and every stage of their buying journey.

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Conversational AI

Guide to Conversational AI in eCommerce & Retail

eCommerce has transformed the way the world shops, does business, and even lives. Whether it’s Business to Consumer (B2C), Business to Business (B2B) or some other model, eCommerce platforms and marketplaces provide numerous advantages over traditional “brick and mortar” stores – for both buyers and sellers. The opportunity to sell online enables businesses to reach more customers and earn more revenues. Customers get access to a wider variety of sellers, more choice in goods and services, better prices, and of course, convenience and hassle-free payments and delivery.

Digital shopping has become even more important in the post-COVID world. In 2020, 18% of retail sales took place via eCommerce, with worldwide sales reaching well over $4 trillion. In 2021, eCommerce sales are expected to approach $5 trillion, accounting for 21.8% of all retail sales. These massive numbers will be driven by 2.14 billion digital buyers. From these numbers, it’s clear that eCommerce is booming, and will drive the future of retail over the coming years.

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Chatbots

5 Things to Keep in Mind when Choosing a Chatbot

Artificial Intelligence (AI) and Machine Learning (ML) are two technologies that are making every tech-savvy business owner motivated. These technologies are reshaping businesses by closing the gap between ambition and action. Almost 85% of business executives believe opting for AI, and ML-based solutions will increase productivity and help gain a competitive advantage. There is no doubt that investment in AI, ML, and automation technologies will put businesses at the forefront of innovation and creativity.

Customers and users prefer chatbots over other solutions as they deliver quick results and efficient services. The social media platform Facebook created around 300,000 bots in 2018. This has enrolled these tech giants and start-ups in a never-ending race; to get an edge over your competitors, you must speed up your business growth by integrating chatbots.

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WhatsApp Business API

5 Ways For Small Businesses To Use WhatsApp API

Have you been wondering how to scale your business with the WhatsApp API, but are not exactly sure if you need it? Well, the platform has more than 2 billion active users and it’s now open for business.

In this article, we’ll cover your options for using the WhatsApp API for business, and discuss the various practical instances where it can find a place in your business strategy.

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