SaaS customer engagement automation provider Verloop has raised $3 million in Series A funding round led by IDFC Parampara Fund. The other investors who participated in the round include Kris Gopalakrishnan – Infosys Co-founder and Dr Ranjan Pai – Chairman of the Manipal Education and Medical Group (MEMG).
The Y-Combinator startup said that the fresh funds will be utilized to enhance the Verloop customer engagement platform as the company expands its team and scale operations.
The startup’s customer portfolio includes Nykaa, Qtrove, Pipa Bella, Portea, Apollo Munich Health Insurance and Aadhaar Bridge. Further, it has also been used in Indian entertainment including Rajinikanth for his movie Kaala, other mainstream and niche celebrities, publication houses and entertainment magazines who are utilising conversational automation to connect with fans and readers.
“This investment is a striking endorsement from some of the savviest and most well-known names in startup and tech ecosystem and comes at a time when we are continuing to hire top talent and build further traction for the business,”said Gaurav Singh, the 28-year old Founder & CEO of Verloop in a statement.
Verloop.io is a language-agnostic platform that already supports 7 Indian languages including Hindi, English, Tamil, Telugu, Kannada, Marathi, Bengali and Hinglish. In addition, the company has developed a new messaging protocol and a patent-pending technology for bot to human handoff of conversations when it detects that the conversation can be better served by a human chat rep.
The startup aims to address a global market for automated customer services and marketing that MetricNet estimates is valued at $19 billion annually.