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The company intends to use the funds to drive product innovation, increase sales and marketing, and expand globally. Tenaya Capital joins existing investors Globespan Capital Partners, Helion Ventures and Charles River Ventures in the Series E round, taking the company’s total fund raise to $47 million.
Consumers use SMS GupShup to connect with their interests, while businesses use it to engage with their customers and employees. SMS GupShup derives revenues from its mobile marketing and mobile CRM solutions for large and small businesses. Recently, it unveiled group-messaging services with carriers across Asia.
Launched in April 2007, SMS GupShup is a messaging service that connects 50 million Asians via mobile device. The network is a combination of nearly 5 million communities that share content on topics such as finance, entertainment, lifestyle, health, sports and technology.