Gupshup to acquire cloud communications organizations Knowlarity

Gupshup , a conversational messaging services firm, has recently disclosed that it is planning to acquire Knowlarity Communications – cloud telephony and AI company – for an unrevealed amount.

For the unversed, Knowlarity provides cloud telephony, voice assistants powered with AI, contact center automation and speech analytics solutions.

Beerud Sheth, Co-founder and CEO, Gupshup, said that as the B2C (business-to-consumer) engagement has become conversational, it is busy enabling more businesses to provide rich experiences.

By adding the products of Knowlarity, the businesses will now be able to build unified conversational understandings across both messaging and voice channels.

Furthermore, Knowlarity works with around 6,000 customers in 65 countries, and the acquisition will enable Gupshup establish as a strong player in the segment of voice and voice communications.

As per credible sources, the revenue of Knowlarity grew by 50% over the previous year while the international revenues grew by 100% in the same period. The company operates in the voice-based conversational engagement market, which is said to have a total addressable market of around $18 billion by 2024.

Yatish Mehrotra, CEO Of Knowlarity, said that this would result in a richer experience for the current and future customers and product enrichment and essential opportunities for geographic expansion. The customer-centric, innovation-focused cultures are aligned perfectly, and the firm sees significant synergies and new products developing by amalgamating two teams.

This marks to be the second procurement in the previous four months by the firm following the successful acquisition of Dotgo, a rich communication services (RCS) platform. In 2021, Gupshup successfully raised $340 million at a valuation of $1.4 billion from Fidelity Management, Tiger Global, Research Co. LLC and other investors.

Moreover, Knowlarity has been partnering with firms like CRM systems like Freshworks and Zoho and big giants like Google Cloud for speech integration and analytics.

Source Credit - https://economictimes.indiatimes.com/tech/startups/gupshup-acquires-knowlarity-to-bolster-conversational-engagement-solutions-portfolio/articleshow/89293115.cms