US-based GupShup acquires AI-powered Voice Leader Knowlarity for an undisclosed sum

San Fransico-based GupShup, a startup that helps businesses to interact with customers through various mediums, has acquired Knowlarity Communications for an undisclosed amount. The acquisition complements Gupshup's industry-leading Conversational Messaging suite and establishes Gupshup as the leader in voice & video communications as well, the company said.

Ambarish Gupta and Pallav Pandey co-founded the startup in 2009. Knowlarity offers cloud telephony, contact center automation, AI-powered voice assistants, and speech analytics solutions to over 6,000 customers across 65 countries.

The company operates in the voice-based Conversational Engagement market, which is poised to transform contact centers, IVR systems, and smart voice systems, accounting for a total addressable market (TAM) of nearly $18 billion in 2024.

GupShup, which became a unicorn startup last year, operates as a conversational messaging platform for businesses who want to interact with customers through mediums such as email, SMS, WhatsApp, Voice, and chatbot.

Over the last 12 months, Knowlarity witnessed an increase of 50% in its revenue, while international revenues ex-India grew 100% in the same period, the company said in a statement.

Knowlarity offers solutions with unparalleled reliability and intelligence that enable businesses to better engage their customers through AI-enabled voice and video solutions for improved ROI.

The company is offering its services to industries including BFSI, Consumer Goods, IT/ITeS, and Healthcare, across a variety of customer journeys covering sales and lead generation, customer service and support, automated calls, surveys, and feedback, logistics and delivery, and remote work.

Additionally, It has partnered with Google Cloud for Speech Analytics and integrations with the world's leading CRM systems like 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-to-consumer engagement becomes conversational, Gupshup is busy enabling more ways for businesses to deliver rich experiences. With the addition of Knowlarity's products, businesses will now be able to build seamless conversational experiences across both messaging and voice channels", said Beerud Sheth, co-founder & CEO, Gupshup.

Speaking on the development, Yatish Mehrotra, CEO, Knowlarity, said: "We at Knowlarity are excited to be a part of Gupshup. This will lead to richer experiences for our existing and future customers along with product enrichment and significant geographic expansion opportunities. Our customer-centric, innovation-focused cultures are perfectly aligned and we see significant synergies and new products emerging from the combination of two great teams."

"Our investment and journey with Knowlarity over the years continues to strengthen our belief that India produces world-class SaaS businesses. Gupshup and Knowlarity are a natural fit. We would like to congratulate the teams at Gupshup and Knowlarity and wish them all the very best as they form a strong partnership in the years to come" said one of Knowlarity's investors, Subeer Monga, Partner at Mayfield India.

GupShup says the transaction is expected to close by the end of February 2022, subject to completion of customary closing conditions. DC Advisory acted as the sole financial advisor to Knowlarity on the transaction, it adds.

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