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Investment  25, Jun 2014

Helpshift raises US$10 million in Series A funding

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The funding round was led by Intel Capital, with participation from Visionnaire Ventures and existing investors True Ventures and Nexus Venture Partners

Helpshift, the CRM for mobile apps based in Pune and San Francisco, announced that it has closed its Series A financing round of US$10 million. The funding round was led by Intel Capital with the participation from Visionnaire Ventures and existing investors True Ventures and Nexus Venture Partners. This follows the company’s seed funding of US$3.2 million in October 2012, bringing the total to US$13.2 million in funding to date.

“We’ve seen incredible global adoption of our platform among all parts of the app ecosystem, from games to m-commerce, to lifestyle apps,” said Abinash Tripathy, Co-founder and CEO, Helpshift.

“We’ve realised we have something that most mobile companies could benefit from and the only challenge for us has been the ability to scale to meet the explosive demand. This round of funding will enable us to attack each of these major mobile verticals and bring the benefits of Helpshift to thousands of app publishers,” he added.

To climb to the top of the charts and stay relevant in the highly competitive world of mobile apps, companies need to communicate with their customers and directly engage with them in their apps. The biggest problem in the app economy today is that more than 90 per cent of the users who download an app churn away in the first 90 days. Started in 2009, Helpshift provides a native mobile SDK that can be integrated into any mobile app to enable two-way communications, helping companies talk to their customers directly through their apps.

Also Read: Cisco Investments allocates US$40M for early-stage firms in India

“Mobile gaming is the most significant app economy today, and as a result, most customer-centric innovation in mobile happens here. As a media executive and investor, Helpshift’s machine learning based CRM technology allows leading gaming and m-commerce companies to focus their interactions with users in near tailored approach. So it’s not surprising Helpshift is rapidly being adopted by the who’s-who of the gaming industry. And we, at Visionnaire Ventures, are backing Helpshift to continue growing their global footprint, while delivering great customer experiences,” said Taizo Son, Co-founder, GungHo Online Entertainment and an L P of Visionnaire Ventures.

Susan Choe, Managing Partner at Visionnaire Ventures will be joining the Helpshift board.

Twishy

Twishy

A writer at heart, Twishy thinks that no idea is small and nothing is a mistake. Some of the great works come from beautiful mistakes that are perfectly imperfect. She believes in unearthing new talent and feels that genius can be written on a bar napkin too. Incisive reporting coupled with exceptional ideas has been the love of her life. When not writing, one can find her exploring the best places to hang out with loved ones.

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