Gupshup, a conversational messaging platform operated by Webaroo Inc., has acquired a conversational AI platform for banks and fintech companies Active.ai.
The startup is also in talks with potential investors for pre-IPO funding of $100-200 million or even larger ahead of its US listing plans.
Founded by Ravi Shankar, Parikshit Paspulati, and Shankar Narayanan in 2016, Active.ai is leveraging artificial intelligence (AI) to deliver conversational banking services to help banks and financial institutions redefine their future digital strategy.
It serves banking and financial BFSI customers across 43 countries with its Conversational Banking as a Service (CBaaS) platform, helping clients engage with millions of consumers. The startup had raised funding from Kalaari Capital, Chiratae Ventures, Vertex Ventures, CreditEase Holdings and Dream Incubator, among others.
Gupshup | Conversational Messaging Platform
Founded by Rakesh Mathur and Beerud Sheth, Gupshup enables better customer engagement through conversational messaging. The startup enables digital commerce businesses with conversational messaging across channels.
Speaking about the development, Beerud Sheth said,
“Gupshup and Active.Ai have a very high customer overlap as a lot of our banking customers use Acitve.ai for developing chatbots and so on.”
He added that this acquisition accelerates their ability to do this specialised capability in the BFSI vertical, which was part of their roadmap anyway. Without disclosing many details, Beerud Sheth stated that there are a couple of more acquisitions in the pipeline.
This is Gupshup’s second acquisition in 2022. Earlier in February, Gupshup acquired cloud telephony company Knowlarity Communications, which is backed by renowned investors like Sequoia Capital and Mayfield.
In April last year, Gupshup raised primary funding of $100 million from Tiger Global and entered the coveted unicorn club. And, in September 2021, Gupshup bought Dotgo, a New Jersey-based rich communications services (RCS) startup.
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