Wednesday 30 September 2020
 
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Gaurav Singh, Founder and CEO of Verloop.io

Verloop.io raises $5m in capital

MANAMA, 26 days ago

Verloop.io, a leading global customer support automation platform, has raised $5 million as part of its Series-A funding led by Alpha Wave Incubation, which is backed by Abu Dhabi-based ADQ. 
 
Verloop.io enables businesses to automate customer support across channels allowing automation up to 60 per cent within 30 days. It has processed over two billion queries from customers across its clients, with over 100 million unique users and 92 per cent support query deflection.
 
Verloop.io is managed by Falcon Edge Capital, along with existing investors IDFC Parampara, Kris Gopalakrishnan and promoted by GrowthStory, a venture-builder platform by K Ganesh.
 
Navroz Udwadia, Co-Founder and Partner of Falcon Edge Capital, said: “With rapidly changing consumer behaviours, brands are now looking to enhance their customer support experience. We are excited to back Verloop.io and believe their offering is well tied with increasing demand for solutions that enable brands to supercharge their support teams and drive growth.” 
 
Verloop.io has grown 200 per cent over the last two years. The investment will be used to fuel its aggressive product development roadmap, which includes hiring top talent across the data science and engineering domains while pursuing rapid geographic expansion across the Middle East, Southeast Asia, and the US.
 
“This investment, especially during Covid times, is an endorsement of our machine learning capabilities. We are now looking to hire top talent and build further traction for the business globally," said Gaurav Singh, Founder and CEO of Verloop.io.
 
 
Verloop.io helps brands scale up their customer support and is used by over 5,000 brands globally, including Decathlon, Cleartrip, Dar Al Arkan, Fetchr, Livpure, Adani Capital, DSP Mutual Fund, Rentomojo, Scripbox and many more. Verloop.io was founded by Singh in 2015 and is promoted by GrowthStory, the venture-builder platform founded by serial entrepreneurs K Ganesh and Meena Ganesh. --Tradearabia News Service



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