Helpshift closes series A funding of $10mn

Intel Capital leads with participation from Visiooaire Ventures, True Ventures and Nexus venture Partners

Helpshift, the provider of CRM for mobile apps, today announced that it has closed its Series A financing round of $10 million. The funding round was led by Intel Capital with participation from Visionnaire Ventures and existing investors True Ventures and Nexus Venture Partners.

This follows the company's seed funding of $3.2 million in October 2012, bringing the total to $13.2 million in funding to date.

"We've seen incredible global adoption of our platform among all parts of the app ecosystem, from games to m-commerce, to lifestyle apps," said Abinash Tripathy, co-founder and CEO, Helpshift. "We've realized we have something that most mobile companies could benefit from and the only challenge for us has been the ability to scale to meet the explosive demand. This round of funding will enable us to attack each of these major mobile verticals and bring the benefits of Helpshift to thousands of app publishers," he said.

In one year, Helpshift has been installed on more than 150 million devices and reduced incoming support tickets by more than 90 per cent for leading companies including Supercell, Glu Mobile, Flipboard and other top app publishers, said the company.

To climb to the top of the charts and stay relevant in the highly competitive world of mobile apps, companies need to communicate with their customers and directly engage with them in their apps. The biggest problem in the app economy today is that more than 90 per cent of the users that download an app churn away in the first 90 days. Helpshift provides a native mobile SDK that can be integrated into any mobile app to enable two-way communications, helping companies talk to their customers directly inside their apps. Higher engagement with users in-app improves the overall customer experience, and drives higher app store ratings and has been proven to reduce churn by 40 percent.

"Mobile gaming is the most significant app economy today, and as a result, most customer-centric innovation in mobile happens here. As a media executive and investor, Helpshift's machine learning based CRM technology allows leading gaming and m-commerce companies to focus their interactions with users in near tailored approach," said Taizo Son, co-founder, GungHo Online Entertainment, and an L.P. of Visionnaire Ventures.

Susan Choe, managing partner at Visionnaire Ventures will be joining the Helpshift board.