MANAMA: Verloop.io, the world’s leading customer support automation platform, has raised USD 5 million as a part of its Series-A funding led by Alpha Wave Incubation, which is backed by Abu Dhabi-based ADQ.
This is managed by Falcon Edge Capital, along with existing investors IDFC Parampara, Kris Gopalakrishnan and promoted by GrowthStory, a venture-builder platform by K Ganesh.
Verloop.io enables businesses to automate customer support across channels and has processed over two billion queries from customers across its clients, with over 100 million unique users with a 92 per cent support query deflection and can automate up to 60 per cent within 30 days.
“With rapidly changing consumer behaviors, brands are now looking to enhance their customer support experience. We are excited to back Verloop.io and believe their offering is well tied with increasing demand for solutions that enable brands to supercharge their support teams and drive growth,” says Navroz D. Udwadia, Co-Founder and Partner of Falcon Edge Capital.
Verloop.io has grown by 200 per cent, Accounting rate of return (ARR), over the last two years and the investment will be used to fuel its aggressive product development roadmap, which includes hiring top talent across the data science and engineering domains while pursuing rapid geographic expansion across the Middle East, Southeast Asia, and the United States.
“This investment, especially during COVID times, is an endorsement of our machine learning capabilities. We are now looking to hire top talent and build further traction for the business globally,” said Gaurav Singh, Founder & CEO of Verloop.io.
