Microsoft Ventures, Salesforce Ventures lead $23 mn Series B round in Helpshift
Pune- and San Francisco-based customer support software provider Helpshift Inc. has raised $23 million (around Rs 153.6 crore) in a Series B funding round led by Microsoft Ventures and Salesforce Ventures.
Existing investors Intel Capital, Nexus Venture Partners, True Ventures and Visionnaire Ventures also participated in the round. With the latest round, Helpshift has raised $36.2 million.
Interestingly, Microsoft Corp, the parent of Microsoft Ventures, is one of its biggest clients. Helpshift has also partnered with Salesforce, providing its software development kit (SDK) to resolve mobile customer support problems for mainstream companies. Salesforce Ventures is the venture capital unit of customer relationship management (CRM) software service provider Salesforce.com Inc.
“Helpshift has been a great partner for Microsoft and our investment today represents our confidence in their messaging-based approach to customer service, as we hold a shared value of providing the seamless experience customers want,” said Nagraj Kashyap, corporate vice president, Microsoft Ventures.
Helpshift will use the funds for business expansion, according to a company statement.
“This is the year we champion a new model of support, one that is better for both consumers, as well as the companies serving them,” said Abinash Tripathy, CEO and co-founder, Helpshift. “Our new financing will help fuel our continued expansion across teams in research and development, sales and marketing.”
In 2014, Helpshift had raised $10 million in its Series A round of funding led by Intel Capital, with participation from Silicon Valley-based early-stage investor Visionnaire Ventures besides existing investors True Ventures and Nexus Venture Partners.
In 2011, it had raised $3.2 million in seed funding from Nexus Venture Partners and True Ventures.
Helpshift’s customer support platform includes in-app frequently asked questions (FAQs), in-app chat, CRM ticketing system, in-app campaigns and in-app surveys on any device.
Tripathy, along with Baishampayan Ghose, founded Helpshift in Pune in 2012. Ghose serves as chief technology officer of Helpshift.
Besides Microsoft, Helpshift's clients include Zynga, VirginMedia, WesternUnion, Flipboard, Shyp, Luxe and Wordpress.
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Salesforce Ventures is a venture capital firm. It provides seed and early stage capital to companies operating globally primarily in Europe and United states. The firm seeks to invest in the technology sector with focus on cloud-based companies. The company was founded in 2009 and is based in California, United States of America.
Intel Capital is a venture capital and private equity arm of Intel Corp. It provides seed, startup, early stage, mid-stage, late-stage, middle market and mature-stage capital to companies operating across the globe. The firm seeks to invest in information technology, online media, telecommunication, finance, education, energy and media sector. It also invests in companies run by women and underrepresented minorities. The company was founded in 1991 and is based in California, United States of America.
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True Ventures is a venture capital firm with 1 billion asset under management. It provides seed and early stage capital to the companies operating globally. The firm seeks to invest in the technology sector. It typically invests between $0.75 million to $2 million initially with a lifetime commitment of $7.5 million to $10 million per company and invests upto a $20 million. The company was founded in 2005 and is based in California, United States of America.