Verloop, which is a Mumbai based Artificial Intelligence powered customer engagement automation startup has now secured Rs 21 crore in the funding round of Series A which is led by the IDFC Parampara Fund.
Some other investors which have participated in the round include the Infosys co-founder Kris Gopalakrishnan and Ranjan Pai, the chairman of the Manipal Education.
The fund will be going to be used to enhance the Verloop customer engagement platform as the startup is looking to expand the team size and scale up its operations to cater to the global market for the purpose of the automated customer service and marketing.
The startup which is founded in 2016 by Gaurav Singh. Verloop provides an intelligent Artificial Intelligent platform to help its clients in automating the customer support and generating leads to boost up the marketing and sales work. As of now the startup has enabled more than 120 million conversations with its platform after the launch in 2016.
A list of its clients include the Pipa Bella, Nykaa, Apollo Munich Health Insurance, Aadhaar Bridge, Qtrove, Portea and others.
Talking about the investment, Kris Gopalakrishnan, Co-Founder, Infosys, said, “We are seeing a massive behavioral shift with people demanding personalized and conversational brand experiences. Large, growing organizations and celebrity brands will be hard pressed to meet this requirement profitably, and at-scale as interactions run into multiple millions. This is where ML (machine learning) technology coupled with human ingenuity comes in and can help harvest the potential in these interactions. Verloop has built an easily scalable model to target a huge addressable market.”
Verloop is also backed by the Growth Story, which is a Venture builder platform and was also a part of Y Combinator startup school in the year 2017.