SMS GupShup, providing mobile community platform, received investment of $11 million (about Rs 53 crore) from Helion Ventures and Charles River Ventures (CRV). The funds will be used to fund business growth, product development and increased sales and marketing.
Since its launch in April 2007, SMS GupShup has grown its user base to 12 million unique users, in over five lakh communities ranging from finance, entertainment, business, news, education, spiritual, health and more. The company is seeing increasing adoption from major advertisers for targeted, contextual mobile advertising. Initially launched in India, SMS GupShup will later be available in other geographies.
“Helion Ventures is very excited about SMS GupShup’s rapid growth and leadership position in the dynamic mobile space. We believe that this innovative platform for mobile communities and advertising has immense potential,” said Ashish Gupta, managing director, Helion Ventures.
“We are delighted to have two world-class venture capital firms as our investors, helping us deliver great customer value and build on a significant market opportunity” said Rakesh Mathur, CEO and Co-founder of SMS GupShup.
This investment will enable SMS GupShup to innovate faster and deliver great products to consumers, advertisers and enterprises said, added Beerud Sheth, president, and Co-founder of SMS GupShup.
SMS GupShup has built communities around DLFIPL and Pepsi – Youngistaan to enable loyal users to deeply engage with the respective brands.
