SUMMARY
Verloop makes machine learning-driven conversation automation platforms
The funding will be utilised to enhance the Verloop customer engagement platform
Clients who have leveraged the Verloop platform include Nykaa, Qtrove, Pipa Bella, among others
Bengaluru-based Verloop closed a $3 Mn Series A investment round led by IDFC Parampara Fund.
Infosys cofounder Kris Gopalakrishnan, and Dr Ranjan Pai, the chairman of the Manipal Education and Medical Group (MEMG), also participated in the funding round.
The GrowthStory-promoted Saas conversation automation provider, was part of the Y Combinator Startup School 2017. Currently Verloop supports seven Indian languages including Hindi, English, Tamil, Telugu, Kannada, Marathi, Bengali and even Hinglish.
Clients who have leveraged the Verloop platform include Nykaa, Qtrove, Pipa Bella, Portea, Apollo Munich Health Insurance and Aadhaar Bridge. It has also been used by some of the biggest stars in Indian entertainment including Rajinikanth for his movie Kaala to engage with fans.
In addition, the company has developed a new messaging protocol and a patent-pending technology for the bot-to-human handoff for conversations when it detects that the conversation can be better served by a human chat representative.
The funding will be utilised to enhance the Verloop customer engagement platform as the company expands its team and scales operations to address the global market for automated customer services and marketing that MetricNet estimates is valued at $19 Bn annually.
Verloop: Number Crunch, Technology & More
Gaurav Singh, the 28-year old founder and CEO of Verloop claims that the platform already works with more than 5000 clients across ecommerce, healthcare, education, entertainment and lifestyle sectors across 37 countries.
He claims that Verloop has processed more than 120 Mn unique conversations since its launch in late 2016. Verloop use-cases span marketing and sales, customer support and celebrity brand management.
“The use-cases they’ve built are very interesting and there is great potential for the product to verticalise and mine the potential for automated customer engagement across industries, across countries and across languages,” said Jatin Desai, General Partner, IDFC-Parampara.
There has been a massive behavioural shift when it comes to personalised brand experiences among the consumers. “This is where machine learning coupled with human ingenuity comes in and can help harvest the potential in these interactions,” Gopalakrishnan said.
