Messaging Startup Gupshup Raises $240 Million In Preparation For IPO
- ByStartupStory | July 28, 2021
Gupshup, a Mumbai and Silicon Valley-based messaging startup and recent unicorn has raised $240 million in funding from investors including Fidelity Management and Research, Tiger Global, Think investments, Malabar investments, Harbor Spring Capital LLC, and others. Besides investing in product, expanding the team, and scouting for M&A opportunities, the company plans to use the capital for secondary purchase of shares from current and former employees as well as early investors in preparation to go public. Beerud Sheth, co-founder and CEO, Gupshup said the startup is eyeing a “ US listing probably next year” and saw a lot of investor interest come in for this round. “In order to build relations with the marquee firms with an incredible track record, we decided to buy back shares from our employees and early investors in this round,” he said.
Gupshup has raised $340 million in 2021, and the company says it is likely to exit 2020 with an annual revenue run rate of approximately $150 million. Earlier this year, Gupshup said that it had helped digitize over hundreds of restaurant outlets across India by helping them automate direct ordering, touchless, payment, home delivery, marketing, offers and more.
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