Customer support automation platform Verloop.io has raised $5 million as a part of its Series A funding led by Alpha Wave Incubation, managed by Falcon Edge Capital, along with existing investors IDFC Parampara and Infosys co-founder Kris Gopalakrishnan.
The five-year-old startup will use the funds to fuel its product development roadmap, which includes hiring top talent across the data science and engineering domains and will expand its presence across the Middle East, Southeast Asia, and the United States.
Verloop.io enables businesses automate customer support across channels and claims to have processed over 2 billion queries from customers across its clients, with over 100 million unique users having interacted with the platform.
“This investment, especially during covid times, is an endorsement of our machine learning capabilities. We are now looking to hire top talent and build further traction for the business globally,” said Gaurav Singh, founder and CEO of Verloop.io.
The startup also claims to have over 5,000 brands globally at present, including Decathlon, Cleartrip, Adani Capital, DSP Mutual Fund, Rentomojo, and Scripbox.
“With rapidly changing consumer behaviors, brands are now looking to enhance their customer support experience. We are excited to back Verloop.io and believe their offering is well tied with increasing demand for solutions that enable brands to supercharge their support teams and drive growth,” said Navroz D. Udwadia, co-founder and partner of Falcon Edge Capital.
Verloop.io is also promoted by GrowthStory, a venture-builder platform founded by serial entrepreneurs K. Ganesh and Meena Ganesh.
In 2018, the Y-Combinator backed startup had said that it was supporting Indian languages, including Hindi, Bengali, Kannada, Tamil, Marathi, and Telugu.
It has also developed a new messaging protocol for a bot-to-human handoff of conversations. This is triggered when the platform detects that the conversation can be better served by a human chat representative.
