13 June 2019, India:
Yellow Messenger has raised $4 million (₹27 Crores) in Series A round of funding. Lightspeed Venture Partners and prominent angel investors participated in the funding round.
The company will use the fresh capital to further its cutting-edge deep tech capabilities, and also to expand its customer success teams and presence in high-potential markets across Asia, the Middle East, and other emerging markets.
The angel investors that participated in the round include Phanindra Sama (Founder, Redbus and CIO of Telangana State), Kashyap Deorah (Founder of Hypertrack, Author of Golden Tap), Anand Swaminathan (Senior Partner, McKinsey & Co.), Prashant Malik (Co-founder, Limeroad), Nishant Rao (former MD, Linkedin India), Kunal Bahl (co-founder Snapdeal) , Rohit Bansal (co-founder, Snapdeal), Monisha Varadan (Zephyr Ventures), and Alap Bharadwaj (APAC Innovation, Google).
Raghu Ravinutala, CEO, Yellow Messenger, said, “We are excited about partnering with Lightspeed and our eminent angel investors to invest deeply in R&D and expand our global presence to build the most impactful enterprise technology company for the AI era. We’re excited about how enterprises are boosting efficiencies by a significant order of magnitude using our cognitive automation platform – we call them 10xEnterprises!”
Dev Khare, Partner at Lightspeed Ventures said, “We believe that Asia’s businesses require fundamentally different solutions for enterprise software, driven by unique organizational structures and consumer expectations, Yellow Messenger is tapping into the messaging-centric expectation that Asia’s 4.5 billion consumers have for interacting with large consumer companies in verticals such as banking, financial services, utilities, travel, and e-commerce.”
Yellow Messenger is a leading conversational AI platform that helps enterprises significantly boost efficiency and growth by offering always-on, intelligent conversational automation on text and voice across multiple channels like WhatsApp, Google assistant, Alexa, Web, and mobile apps.
(Image – Yellow Messenger)