Local Business

Verloop raises $5m to expand UAE operations, hire local staff

sandhya@khaleejtimes.com Filed on August 25, 2020
Gaurav Singh, Founder & CEO of Verloop.io. - Supplied photo

Verloop.io enables businesses to automate customer support across channels.

Verloop.io, the customer support automation platform, has raised $5 million as a part of its Series-A funding led by Alpha Wave Incubation, which is backed by Abu Dhabi-based ADQ.

Verloop - which has overall raised $8 million - had previously raised $3 million from IDFC Parampara Fund, Kris Gopalakrishnan and others.

The current funding was managed by Falcon Edge Capital, along with existing investors and promoted by GrowthStory, a venture-builder platform by K Ganesh.

"With rapidly changing consumer behaviours, brands are now looking to enhance their customer support experience. We are excited to back Verloop.io and believe their offering is well tied with increasing demand for solutions that enable brands to supercharge their support teams and drive growth," said Navroz D. Udwadia, co-founder and partner of Falcon Edge Capital.

Verloop.io enables businesses to automate customer support across channels and has processed over two billion queries from customers across its clients, with over 100 million unique users with a 92 per cent support query deflection and can automate up to 60 per cent within 30 days.

"The investment in our startup, especially during Covid times, is an endorsement of our machine learning capabilities. We are now looking to hire top talent and build further traction for the business globally" said Gaurav Singh, Founder & CEO of Verloop.io.

Verloop's reputed clients in the range include Cleartrip, Dar Al Arkan, Fetchr and other clients in BFSI as well as real estate sector.

"We are setting up our physical presence in Abu Dhabi, which will also act as a centre for our research and development in engineering, machine learning and AI. We have plans of hiring locally and also bring top talent from across the globe to our Abu Dhabi office," added Singh. - sandhya@khaleejtimes.com


Sandhya D'Mello

Journalist. Period. My interests are Economics, Finance and Information Technology. Prior to joining Khaleej Times, I have worked with some leading publications in India, including the Economic Times.

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