Gupshup, a business messaging platform that reached unicorn status in the year two thousand twenty-one, has raised more than sixty million United States dollars in a new funding round. The round was led by Globespan Capital Partners and EvolutionX Debt Capital, as the company looks to scale its global operations and enhance its suite of artificial intelligence-powered communication solutions.
While the company did not reveal its latest valuation, Beerud Sheth, Founder and Chief Executive Officer of Gupshup, confirmed that a little more than half of the funding amount was raised through equity.
The capital will be used to expand Gupshup’s presence in India, the Middle East, Latin America, and Africa, as well as to strengthen its product offerings that help enterprises deploy customizable artificial intelligence agents across platforms such as WhatsApp and Rich Communication Services (RCS).
“There is tremendous demand from enterprises globally. Every organization is looking to build intelligent agents,” said Sheth. “Off-the-shelf models are not sufficient—they require deep customization to suit each business’s needs, and that is where Gupshup plays a critical role.”
Despite a valuation markdown by Fidelity Investments in the previous year, Sheth stated that the company has tripled its revenue and profitability since becoming a unicorn.
Currently, Gupshup serves over fifty thousand enterprise customers across more than one hundred countries, and processes approximately one hundred twenty billion messages annually. The company is also preparing for a public offering within the next eighteen to twenty-four months.
Although India is a strong contender for the company’s initial public offering, its United States domicile presents regulatory and structural challenges. “The initial public offering is the one aspect of the business that we do not fully control,” Sheth acknowledged.
