Chatbot firm Gupshup buys Knowlarity in $100 mn deal
NEW DELHI: Conversational engagement solutions provider Gupshup on Wednesday announced the acquisition of Knowlarity Communications in a $100 million deal.
Knowlarity offers cloud telephony, contact centre automation, AI-powered voice assistants and speech analytics solutions to over 6,000 customers across 65 countries. It has nearly 400 employees. The acquisition complements Gupshup’s conversational messaging suite and establishes it as the leader in voice and video communications as well, a statement said. The transaction is expected to close by the end of February 2022, subject to the completion of customary closing conditions.
This is Gupshup’s second acquisition in the last four months, following the acquisition of Dotgo, which offers an RCS platform, it added. Knowlarity operates in the voicebased conversational engagement market, which is poised to transform contact-centres, IVR systems and smart voice systems, accounting for a total addressable market of nearly $18 billion in 2024. Its solutions are used across multiple industries, including BFSI, consumer goods, IT/ITeS and healthcare. Knowlarity revenues grew 50% over the previous year, while international revenues ex-India grew 100% in the same period, the statement said.
“As business-to-consumer engagement becomes conversational, Gupshup is busy enabling more ways for businesses to deliver rich experiences. With the addition of Knowlarity’s products, businesses will now be able to build seamless conversational experiences across both messaging and voice channels,” Gupshup co-founder and CEO Beerud Sheth said.
He added that Knowlarity is the clear market leader in voice. Their comprehensive product suite spanning cloud telephony and contact centre automation, along with excellent customer traction, will further enhance Gupshup’s leadership position.