Why Infosys co-founder Kris Gopalakrishnan just poured in money into this customer support startup

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Updated: November 27, 2018 8:35:24 PM

Verloop helps businesses automate and personalise interactions with their customers.

The funding round was led by early-stage fund IDFC Parampara Fund.

Customer support and engagement platform Verloop has secured $3 million in Series A round of funding, from renowned investors including Infosys co-founder Kris Gopalakrishnan and Manipal Education and Medical Group CEO and MD Ranjan Pai, the company said in a statement. The funding round was led by early-stage fund IDFC Parampara Fund.

“The funding will be utilised to enhance the Verloop customer engagement platform as the company expands its team and scales operations to address the global market for automated customer services and marketing,” Verloop said in the statement.

The company claimed the global market size around $19 billion annually, quoting a report by MetricNet.

“Our conversational automation platform already works with more than 5,000 clients across e-commerce, healthcare, education, entertainment, and lifestyle sectors across 37 countries,” said Gaurav Singh, founder and CEO of Verloop. “Company will continue to hire top talent and build further traction.”

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Kris Gopalakrishnan said, “We are seeing a massive behavioural shift with people demanding personalised and conversational brand experiences.” He added, “Large, growing organisations and celebrity brands will be hard pressed to meet this requirement profitably and at-scale as interactions run into multiple millions.”

Back in November 2016, Verloop raised an undisclosed amount in seed funding from Gopalakrishnan, and other angel investors such as Growth Story’s K Ganesh, former Facebook’s director Anand Chandrasekaran, another Infosys co-founder T V Mohandas Pai etc; according to deal tracker Crunchbase.

Verloop is incubated by Growth Story – the venture builder platform by serial entrepreneurs K Ganesh and his wife Meena Ganesh based in Bengaluru. The startup helps businesses automate and personalise interactions with their customers. It serves as a chat platform for its customers to further generate leads, and provide relevant offers.

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