Conversational messaging platform Gupshup, which is owned and operated by Webaroo Inc., said today it has raised $100 million in a funding round that values it at $1.4 billion.

The funding comes from Tiger Global Management, and Gupshup said it will soon be followed by a second injection of capital from more investors that it plans to announce soon.

Gupshup has created a conversational, IP-based mobile messaging platform that businesses can use to engage with their customers better. IP messaging uses the Transmission Control Protocol to enable global messaging capabilities in mobile applications. Businesses can use the Gupshup application programming interface to build messaging and conversational experiences for a variety of popular apps and platforms, such as WhatsApp, Line, Twitter, Facebook, Skype and even traditional SMS texting.

Gupshup Chief Executive Beerud Sheth told SiliconANGLE that his company basically enables real-time communication between businesses and their customers through messages. “When you shop online and receive an instant text message confirming your order, that’s an example of real-time communication,” he said.

He added that Gupshup’s platform enables customers to reply to those messages too and engage in a conversation with that business. Through this, he said, businesses can automate customer support, sales and marketing while also delivering a personalized experience for each customer.

Sheth pointed out that consumers these days expect to be able to converse with businesses in the same way as they do with their friends, with a conversation that should be easy, quick, contextual and personalized. “Gupshup’s mission is to build the tools that help businesses better engage customers through mobile messaging and conversational experiences,” he said.

Gupshup provides the tools and infrastructure to enable these conversational experiences through the Gupshup API. In addition, it also enables developers to create chat bots, scripting engines, omni-channel inboxes, conversational AI models and client-side software.

The company is succeeding in its mission and has enjoyed strong traction in India especially, thanks in part to that country’s mobile-based digital economy, it said. The Gupshup API is now used by more than 100,000 businesses and developers and handles more than 6 billion messages per month across more than 30 messaging channels, it said. That has helped nudge the company toward a $150 million annual revenue run rate, it said.

Sheth explained that though Gupshup competes with companies such as Twilio Inc., it has an advantage in that its IP messaging tools are optimized for “mobile-first countries” in emerging markets.

“The kind of customer requirements we see drives our product innovation with a unique roadmap that differentiates from other players,” the CEO said. “Our products, prices and processes are far better suited to emerging markets and our current traction demonstrates that.”

Tiger Global Management Partner John Curtius said he believes Gupshup is uniquely positioned to become a winner in the business messaging space. He noted that it has an “advanced product” and has demonstrated strong growth and profitability and is led by an “experienced team with a proven track record.” Sheth founded Elance, now called Upwork Inc.

Gupshup said that it will use the new funds to scale up its product and go-to-market initiatives worldwide.

Image: Gupshup