Group messaging company SMS GupShup has raised Rs 50 crore ($10 million) in a Series E funding round led by VC firm Tenaya Capital and included existing investors Lloyd George, New Horizons, Charles River Ventures, Helion Ventures and Globespan Capital Partners, reports The Economic Times. Last year, the company had raised $12 million from Globespan Capital Partners, Charles River Ventures and Helion Venture Partners. SMS GupShup has so far raised $47 million in funding to support its cash-consuming SMS based business.
The group messaging company claims to have 50 million users, and allows users to create mobile communities and broadcast messages to them. It also offers messaging services for enterprise users and advertising and brand engagement solutions for businesses, on its platform. Some of its clients include ICICI Lombard, Nokia, BigFlix, FastTrack and Reliance Money. SMS GupShup has also introduced Scrubber, a tool that enables users to classify Indian mobile and landline numbers as per NCPR/ SMS Spam guidelines of TRAI. It will go live once the guidelines come into force.
It had also launched ‘reply to all’ group messaging services through operators like Loop Mobile in India and Globe Telecom in the Philippines. We have written to SMS GupShup for more details about this funding and will update this post, as soon as we hear from them.
NOT A Mobile Social Network
Nikhil adds: for some inexplicable reason, ET has called SMS gupshup a “mobile social network”. Perhaps that is SMSGupshup’s new pitch. A year and a half ago, everyone kept calling it the Twitter of India, which was because that was how the company was pitching it to journalists. We didn’t buy it, but others sure did. Now they’re calling it a mobile social network. It is a group SMS service, not a social network (individual users aren’t connected to each other), and not the Twitter of India.