Gupshup, a messaging platform that has been growing with popularity since its inception has acquired Active.Ai for an undisclosed fee. Active.Ai is a fintech company that specializes in the field of artificial intelligence. The company’s main headquarters is based in Singapore, but their research and development headquarters is situated in Bangalore.
The transfer of ownership now marks the third acquisition Gupshup has completed within the span of 6 months.
Gupshup previously acquired Knowlarity Communications, two months ago in February. The company specialises in Artificial intelligence and cloud telephony or communications. This company is also based in Singapore.
Their first acquisition comes in the form of Dotgo, a communication platform that offers group chats, video and audio calls. This company is based out of Bangalore.
The purchase of Active.Ai is set to strengthen the company’s grip in the banking and finance fields and also vastly improve their customer care services.
Active.Ai was started by three Indians – Parikshit Paspulati, Ravi Shankar and Shankar Narayanan. The company offers various banking services and currently has operations set up in over 40 countries.
The company works along with various behemoths of the tech industry like Microsoft and Tata Consultancy Services. According to Active.Ai’s official sources, the company has had over 30 million requests and has closed over 50 million enquires. According to Dealroom, the Active.Ai is worth over $15 million USD as of 2021.
Gupshup’s representatives said that the purchase of Active.Ai will only strengthen the company’s data retention and harnessing capabilities. The acquisition also enables them to offer more resources and options to communicate with people through the big three channels, messages, voice call, and video call.
Both companies have a lot of mutual clients and customers and many of Gupshup’s customers utilize the services provided by Active.Ai for creating chatbots software applications. The acquisition will also enable Gupshup to penetrate the Banking, Financial Services, and Insurance (BFSI) vertical which is part of their end goal. Therefore, it is easy to see how the acquisition of Active.Ai makes perfect sense.
As of 2021, Gupshup was valued at a staggering $1.4 billion USD. And with the acquisition of 3 promising and healthy companies, that number is estimates to have risen to around $1.8 billion USD.
The chief executive officer of Active.Ai, was reported saying that he is thrilled and can’t wait to start work with the company’s new partners as they revolutionize the world of finance.