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HomeStart UpChatbot startup Gupshup acquires Knowlarity Communications

Chatbot startup Gupshup acquires Knowlarity Communications

Gupshup, a provider of conversational engagement solutions, announced the acquisition of Knowlarity Communications for an undisclosed sum on Wednesday. Over 6,000 clients in 65 countries use Knowlarity’s cloud telephony, contact centre automation, AI-powered voice assistants, and speech analytics technologies. It employs about 400 people. 

According to a statement, the acquisition expands Gupshup’s conversational messaging suite and positions it as a leader in voice and video communications. 

The deal is scheduled to conclude by the end of February 2022, subject to normal closing conditions being met.

Following the acquisition of Dotgo, which provides an RCS (rich communications services) platform, this is Gupshup’s second acquisition in the previous four months. 

Knowlarity is a player in the voice-based conversational engagement market, which is expected to alter contact centres, IVR systems, and smart voice systems by 2024, with a TAM of over USD 18 billion. 

BFSI (banking, financial services, and insurance), consumer products, IT/ITeS, and healthcare are the industries that use its solutions.

According to the statement, Knowlarity revenues increased by 50% over the previous year, while worldwide revenues outside India increased by 100%.

“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,” Gupshup co-founder and CEO Beerud Sheth said.

He further said that Knowlarity is the clear market leader in the voice category. Gupshup’s leadership position will be strengthened by its extensive product suite, which includes cloud telephony and contact centre automation, as well as good customer traction.

“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,” Knowlarity CEO Yatish Mehrotra said.

With a valuation of USD 1.4 billion in 2021, Gupshup became a unicorn (businesses valued at over $1 billion) and raised USD 340 million from Tiger Global, Fidelity Management and Research Co LLC, and other prominent global investors. 

On the transaction, DC Advisory acted as Knowlarity’s sole financial advisor.

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