Gupshup nabs $240M to power messaging channels

All the sessions from Transform 2021 are available on-demand now. Conversational messaging platform Gupshup today announced that it raised $240 million led by Tiger Global Management, with participation from Fidelity Management, Think Investments, Malabar Investments, Harbor Spring Capital, and others. The tranche, which values the company at $1.64 billion, will be used to build new tools, infrastructure, and services while expanding Gupshup's global reach, CEO Beerud Sheth said. The pandemic has accelerated digital transformation for enterprises, in some cases driving the need for messaging services. Offline businesses are moving online while online businesses are offering more products, and both are looking for tools to better engage customers.